Banks are more exposed than ever to employment discrimination suits as the industry consolidates and thousands of employees are laid off.

The latest target was First Union Corp., which agreed Tuesday to spend $58.5 million to settle age and race bias charges by 239 former employees.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.