Introduction: Bank of America and Merrill Lynch Sex Discrimination Lawsuit

On March 30, 2010, three female Financial Advisors filed a national class action lawsuit in federal court in New York, charging sex discrimination at Bank of America (BofA) and Merrill Lynch. In 2008, BofA acquired Merrill Lynch, and the respective brokerage divisions were joined under the Merrill Lynch name. As a result of the merger, BofA is one of the largest financial institutions in the world and the largest brokerage firm in the world.

Plaintiffs' Allegations

The complaint charges that BofA and Merrill Lynch have engaged in a pattern and practice of gender discrimination against their female financial advisors with respect to business opportunities, compensation, professional support, and other terms and conditions of employment.

BofA/Merrill Lynch's discrimination against female Financial Advisors, as alleged in the complaint, include bias on the basis of gender in account distributions; partnership opportunities; up front money, pay-out rate, and other benefits in its compensation plan; as well as in other opportunities for brokers to increase their income. The complaint charges that these violations are systemic, based upon company-wide policies and practices.

The plaintiffs allege violations of federal and state laws, including Title VII of the Civil Rights Act of 1964, the New York State Human Rights Law, the New York City Human Rights Law, and the Florida Civil Rights Act of 1992.

Contact Plaintiffs' Counsel

Current and former Financial Advisors that wish to report their experiences at Bank of America and/or Merrill Lynch or to learn more about the lawsuit are welcome to contact plaintiffs counsel online or call us toll-free at 1-888-886-9359. There is no charge or obligation for our review of your claim. All information will be held strictly confidential.