Dive Brief:
- Wells Fargo must offer 66 jobs to female and African-American applicants it rejected in 2014.
- The bank discriminated against more than 2,300 candidates for positions as online customer service representatives and phone bankers in Phoenix, Salt Lake City and in Virginia, the Labor Department said in a statement Thursday.
- Wells Fargo must pay $603,612 in back wages, benefits and interest to affected applicants, and offer jobs to original applicants as they open up, the Labor Department said.
Dive Insight:
Wells Fargo did not admit liability, but agreed to revise its selection process and train hiring managers to curb discriminatory practices.
"While Wells Fargo strongly disputes the allegations, we believe that putting this matter behind us is in the best interest of all of our stakeholders," Peter Gilchrist, a bank spokesman, said in a statement to Bloomberg. "Wells Fargo values and promotes diversity and inclusion in every aspect of our business."
The bank has since changed the practices resulting in the settlement, Gilchrist said.
Charles Scharf, the bank’s new CEO, begins in his role today.
