Investment Group Settles Bias Claim Toward H-1B Workers (1)

An investment professional association will pay $321,000 to settle Justice Department allegations that it preferred workers on temporary visas over qualified U.S. workers.

Between November 2016 and January 2018, Charlottesville, Va.-based CFA Institute set aside annual exam-grading positions for its members who had or needed H-1B skilled guestworker or similar temporary visas, the DOJ said Feb. 25. In doing so, CFAI failed to consider equally qualified U.S. workers for the jobs, the agency said.

CFAI offers a global certification for chartered financial analysts if they pass a CFAI-administered exam, the DOJ said.

“We appreciate CFAI’s cooperation and look forward to ...