April 19 (Reuters) - Wells Fargo ( WFC ) was accused of
sex discrimination in a lawsuit by a bond saleswoman who said
the fourth-largest U.S. bank denied pay and promotions available
to men and tolerated an "unapologetically sexist" workplace.
The complaint filed on Friday in federal court in Chicago by
Michal Leavitt is the latest in a long line of lawsuits accusing
big U.S. banks of bias against women.
Leavitt said Wells Fargo's ( WFC ) practice of steering larger
accounts toward men in its financial institutions group cost her
up to one-third of her potential pay, and forced her to wait
nine years for a promotion to director from vice president.
She said she expressed frustration at missing out on large
accounts, but was told her mostly male group thought of her as a
mere "second income" for her husband.
Leavitt also said male managers routinely had inappropriate
sexual relations with female subordinates, and men often made
degrading jokes about women, including over their appearances
and how their wives were only "spending their husbands' money."
"The financial institutions group is a self-acknowledged
'boys club' where locker room talk on the sales floor is de
rigueur," creating an "unapologetically sexist working
environment," Leavitt said.
Wells Fargo ( WFC ) had no immediate comment.
Leavitt joined the San Francisco-based bank in 2013 from
Bear Stearns. The Illinois resident is seeking unspecified
damages and changes in how Wells Fargo ( WFC ) assigns accounts.
Last November, Citigroup ( C/PN ) was sued by managing director
Ardith Lindsey, who said the third-largest U.S. bank tolerated a
"notoriously hostile" work culture where a former top equities
banker subjected her to sexual harassment and death threats.
And last May, Goldman Sachs ( GS ) agreed to pay $215
million to settle a class action alleging widespread bias
against women in pay and promotions.
Wells Fargo ( WFC ) has separately spent years trying to rebound
from a series of scandals for mistreating customers.
These scandals led to billions of dollars in fines, the
toppling of two chief executives, and a still-existing Federal
Reserve cap on assets that limits the bank's growth.
The case is Leavitt v Wells Fargo Securities LLC, U.S.
District Court, Northern District of Illinois, No. 24-03140.