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National investment loss law firm KlaymanToskes reports that Bank of America (NYSE: BAC) has recently announced a new policy requiring its U.S. workers to resolve nearly all legal disputes through arbitration. This policy aligns with a growing trend among Wall Street firms, positioning arbitration as a preferred method over courtroom disputes due to its cost-effectiveness and confidentiality.
The new arbitration policy, effective within a month, mandates that all legal disputes, with the exception of those related to sexual harassment or assault, will be handled out of court. The policy also specifies that employees registered with the Financial Industry Regulatory Authority (FINRA) are already accustomed to resolving disputes through arbitration, in line with industry regulations.
KlaymanToskes is a leading national securities law firm which represents industry professionals who have been involved in a number of employment-related disputes including wrongful termination, unpaid compensation, commission, and bonuses, discrimination, and Form-U5 disclosure disputes. The law firm’s founder and managing partner, Lawrence L. Klayman, Esq. has extensive experience as a former securities broker and has spent decades applying his knowledge gained on Wall Street representing brokers and financial advisors in a range of employment law matters.
If you have experienced employment-related issues such as wrongful termination or unpaid compensation, KlaymanToskes can offer the expertise and support you need. Our firm specializes in assisting financial industry professionals to navigate the complexities of arbitration and other legal processes.
Financial industry professionals at Bank of America and/or any other firm facing employment disputes are encouraged to contact KlaymanToskes at 888-997-9956 or fill out a short contact form for a free and confidential consultation.