Yesterday, Bank of America CEO Brian Moynihan spoke out against North Carolina’s dangerous anti-LGBT law. The bank is based in the Tar Heel State.
"We've been steadfast in our commitment [against] discrimination," Moynihan said at a shareholder meeting. "We have been a leader in LGBT practices since the 90s."
While Bank of America already signed onto HRC and Equality NC’s open letter urging Governor Pat McCrory and the North Carolina General Assembly to repeal the radical provisions in the deeply discriminatory law last month, Moynihan’s announcement made clear that the company will continue to be a leader for LGBT equality.
Last month, North Carolina Governor Pat McCrory signed into law HB 2, an outrageous and unprecedented anti-LGBT bill that eliminates existing municipal non-discrimination protections for LGBT people; prevents such provisions from being passed by cities in the future; and forces transgender students in public schools to use restrooms and other facilities inconsistent with their gender identity, putting 4.5 billion dollars in federal funding under Title IX at risk.
In addition to Bank of America, more than 180 leading CEOs and business executives of major companies, including Apple and Marriott International, have called for HB 2’s repeal. Major artists, including Bruce Springsteen, Ringo Starr, and Pearl Jam, have cancelled performances in North Carolina as a result of HB 2, and NBA commissioner Adam Silver said last weekthat the league will move the 2017 All-Star Game from Charlotte if the law is not repealed.
In the federal court challenge, Lambda Legal, the ACLU, and the ACLU of North Carolina argue that through HB 2, North Carolina sends a purposeful message that LGBT people are second-class citizens who are undeserving of the privacy, respect, and protections afforded others in the state. The complaint argues that HB 2 is unconstitutional because it violates the Equal Protection and Due Process clauses of the Fourteenth Amendment by discriminating on the basis of sex and sexual orientation and invading the privacy of transgender people. The law also violates Title IX by discriminating against students and school employees on the basis of sex.
Bank of America received a 100 on HRC Foundation’s Corporate Equality Index, the national benchmarking tool on corporate policies and practices pertinent to LGBT employees.
Learn more about the CEI here and for more information on HB 2, click here.