Senior female executive at Bank of America sues over “Brother’s Club”.

A senior female broker at Bank of America Corp has recorded a claim blaming the bank for coming up short on her and other ladies, and retaliating when she griped about unlawful or untrustworthy practices by her partners. In an objection documented , overseeing chief Megan Messina said she was a casualty of “horrifying pay uniqueness” with respect to male companions, and was paid not as much as a large portion of the compensation of the man who shares her title as co-head of worldwide organized credit items. She additionally blamed the bank for excusing predisposition by her supervisor that made her vibe unwelcome in his “subordinate ‘brother’s club’ of every male sycophant.” She said the bank abused government Dodd-Frank informant insurances by suspending her last month for grievances about claimed shameful action that hurt customers. Bank of America representative Bill Halldin said: “We consider all affirmations of unseemly conduct important and examine them altogether.” He said Messina remains a worker of the Charlotte, North Carolina-based bank. Messina, a 42-year-old single parent of three, is looking for at any rate $6 million for being come up short on, in addition to correctional harms and pay for mental anguish and embarrassment. Her claim documented in government court in Manhattan joins numerous others that blame Wall Street for inclination against female investors, including being paid less and enduring disparaging behavior. “The bank is approving terrible conduct, and faulting the casualty,” her attorney Jonathan Sack said. “It’s one thing to pay ladies less, yet another to compensate crookery. Messina stated that her supervisor has treated her “like a mid year understudy,” invested...

Puerto Rico declares state of emergency for highway authority

Puerto Rico’s governor on recently declared a state of emergency at the U.S. territory’s highway authority, an effort to keep the agency functioning by directing revenues toward operational costs rather than debt payments. The order from Governor Alejandro Garcia Padilla does not declare a moratorium on debt payments at the Puerto Rico Highways and Transportation Authority (PRHTA), which owes $2.2 billion in total debt. Instead it restricts PRHTA from transferring toll revenues and other income to bondholders in favor of maintaining supply contracts and other operational costs. It also imposes a stay on lawsuits from bondholders. Puerto Rico, hamstrung by a surge in emigration and a 45 percent poverty rate, faces $70 billion in total debt. Garcia Padilla previously declared a state of emergency at the Government Development Bank, Puerto Rico’s primary fiscal agent, before the bank defaulted on most of a $422 million debt payment earlier this month. A law passed this April allows the governor to declare a state of emergency, as well as a moratorium on debt payments, at any agency as he sees fit. The latest order followed a lawsuit from the company Ambac over PRHTA’s granting of a lease extension for the operation of two toll roads. Ambac, which insures some PRHTA debt, alleged that the extension could wrongly divert $115 million out of PRHTA’s estate. Ambac sought a receiver for the highway authority’s operations. “With this order, the administration … reaffirms its position to prioritize the continuation of essential services to its citizens,” Garcia Padilla said in a Spanish-language statement. Puerto Rico’s economic future is a key focal point in municipal debt markets...