Wells Fargo Ends Forced Arbitration for Sexual Harassment (1)

Wells Fargo & Co. said it will no longer require arbitration when an employee files a sexual harassment complaint, making it the first of the largest U.S. banks to announce an end to the practice.

The change, which applies to future harassment claims, is being made following discussions with stakeholders including Clean Yield Asset Management, which submitted a shareholder proposal late last year that focused on the practice, Wells Fargo said in a statement Wednesday. Clean Yield, which focuses on investments that reflect clients’ values, has since withdrawn the proposal.

“Wells Fargo has zero tolerance for sexual harassment,” David Galloreese ...