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Wells Fargo To Pay $7.8M To Settle Racial Bias Suit

Tiomkin Law Offices of Elliott Tiomkin > Legal News  > Wells Fargo To Pay $7.8M To Settle Racial Bias Suit

Wells Fargo To Pay $7.8M To Settle Racial Bias Suit

Law360 (August 25, 2020, 3:00 PM EDT) — Wells Fargo Bank NA will pay $7.8 million in back wages and interest to Black job applicants and revamp its hiring process after reaching an agreement with the U.S. Department of Labor over allegations of discrimination.

The global conciliation agreement with the U.S. Department of Labor’s Office of Federal Contract Compliance Programs, or OFCCP, announced Monday, comes after the agency alleged more than 34,000 instances of race discrimination by Wells Fargo in hiring for a range of positions including banking, administration, sales and customer service between 2010 and 2018.

Wells Fargo will also offer positions to 580 of the affected job-seekers…

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