6min chapter

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Financial advising while Black

Planet Money

CHAPTER

The Discrimination of Black Financial Advisors

Erica Folcher was one of the plaintiffs in a lawsuit against JPMorgan Chase and Merrill Lynch. The suit claims that black financial advisors were discriminated against because they got placed in poorer neighborhoods. All three cases end up settling out of court, but no judge or jury ever weighed in on whether this was actually discrimination. Wells Fargo told us they've tried to do a lot on diversity, equity and inclusion.

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