(Reuters) - Bank of America ( BAC ) scrapped some of its diversity initiatives as it navigates a new business climate under U.S. President Donald Trump.

The second largest U.S. lender dropped references to its diversity hiring goals and a rule requiring hiring managers to consider a diverse group of candidates, according to an annual filing on Tuesday. The changes depart from policies laid out in the bank's proxy statement last year.

"We evaluate and adjust our programs in light of new laws, court decisions and, more recently, executive orders from the new administration," a bank spokesperson said in a statement. "Our goal has been and continues to be to make opportunities available for all of our clients, shareholders, teammates and the communities we serve."