Bank of America has scrapped some of its diversity initiatives as it navigates a new business climate under U.S. President Donald Trump. The second largest U.S. lender dropped references to its diversity hiring goals and a rule requiring hiring managers to consider a diverse group of candidates,

Last year, the bank promoted 387 employees to managing director roles in 2024, more than half of whom were women and people of color.

Bank of America Corp. is rolling back workplace representation targets and replacing references to diversity, joining peers in citing legal changes under the Trump administration.