Feb 25 (Reuters) - Bank of America BAC.N 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."
(Reporting by Lananh Nguyen in New York and Niket Nishant in Bengaluru; Editing by Krishna Chandra Eluri)
((Niket.Nishant@thomsonreuters.com;))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.