The movement that originally started in the media and entertainment world scored two huge victories in the banking industry this past week. First, Wells Fargo announced that it will drop its mandatory arbitration policy for employees who file sexual harassment claims. And then last Monday, a jury ruled that PNC Bank should pay $2.4 million to a former employee who was sexually assaulted by a customer.
Wells Fargo joins other large companies such as Microsoft, Facebook, and Google in ending forced arbitration for sexual harassment victims, but Ms. Banks notes that mandatory arbitration still exists for victims of other kinds of discrimination in the workplace. “I’d like to see mandatory arbitration eliminated” for both employees and customers, she says.
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