PHOENIX - (03/10/05) -- Desert Schools FCU said Wednesday itagreed to pay $65,000 to settle claims in an Equal EmploymentOpportunity suit that the credit union discriminated againstemployees who were not members of the Mormon Church or because theywere African-Americans. The suit brought by the U.S. EqualEmployment Opportunity Commission charged the credit union refusedto promote more qualified non-Mormons or black employees toposition of branch manager, and subjected non-Mormon employees to areligiously hostile work environment. It is the first case ofdiscrimination against non-Mormons the EEOC has prosecuted inArizona, although the agency has taken on several cases in Utah,where the Mormon Church has its headquarters. Under the terms ofthe settlement, Desert Schools FCU will also strengthen itspolicies prohibiting race or religious discrimination and providetraining on race and religious discrimination. In a statement, thecredit unions said it believed the case lacked merit but it settledthe case in "the best interests of members" due to the costsassociated with litigating against a "large governmentalagency."
-
As AI and digital assets become mainstream, banks are spotting new opportunities to integrate payments with other activities.
July 4 -
House Republicans overcame internal divisions to narrowly pass President Trump's tax and spending package Thursday afternoon. The measure would cut the Consumer Financial Protection Bureau's funding level, among other provisions.
July 3 -
A new partnership with Google Cloud will let the Spanish bank offer Gemini to all staff after a successful ChatGPT deployment.
July 3 -
Atlanta-based CoastalSouth's initial public offering prices at $21.50 a share; Valley National Bancorp announces Lyndsey Sloan will succeed Gary Michael as general counsel; Webster Financial Corporation taps a new chief risk officer and appoints a new board member; and more in this week's banking news roundup.
July 3 -
Capital One closed the deal to buy the credit card provider in May and as part of the review process, decided to exit its home equity lending business.
July 3 -
In a rare move for a credit union, the Seattle institution has snapped up the 13-member team that created EarnUp's AI Advisor product.
July 3