The financial services firm Vanguard Group has settled a racial discrimination complaint with the EEOC for $300,000. The case involved Barbara Alexander, a black applicant for a financial planning manager position at Vanguard’s Charlotte office.
Alexander held a master’s degree in finance and had 14 years’ experience in financial planning when she applied for the job. Vanguard hired a white applicant with less experience for the position.
Vanguard admitted no wrongdoing, but agreed to pay Alexander $300,000 and enter into a two-year consent decree with the EEOC. Under the settlement, the company must refrain from discriminating and provide anti-discrimination training to managers and supervisors.
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