Reference no: EM133598746

Problem: "Sygnia McGray Bank (Sygnia), a major U.S. bank, agreed to a $350 million settlement for discriminating against Black, Latino, and Asian American customers and employees across the United States. Widely covered in the media, the issue involved Sygnia charging certain customers higher rates and fees for mortgages and channeling certain employees to minority neighborhoods, paying them less, and promoting them less frequently. As part of the settlement, Sygnia also agreed to hire a diversity executive with responsibility to implement changes in hiring and lending procedures.Sygnia's CEO at the time of the settlement was forced to resign and Jennifer Woodie, long-term VP of Human Resources, was named CEO. Upon taking the CEO job, Woodie sent out a memo to all employees, noting her commitment to Sygnia, her long tenure with the company, and her "long commitment to diversity and inclusion." She also specifically set some diversity-related hiring and promotion goals and stated that employees who do not wish to fully engage with Sygnia in its D&I journey should find another place to work. Two key employees did resign, although neither specifically stated that Woodie's message was the reason.Woodie then set out to hire an assistant VP for DEI, who would report to the new VP of Human Resources (who was former assistant VP), who reports to Woodie. She en-gaged a major headhunting firm, known for sourcing DEI executives, to help her find the perfect person for this role" How have other organizations handled similar situations?