Thomas Shaffer, III, a former Executive Director at JPMorgan Chase & Co., filed a federal lawsuit on April 23, 2026, alleging that the financial institution subjected him to a hostile work environment, racial bias, and retaliation. The complaint, Shaffer v. JPMorgan Chase & Co., was filed in the U.S. District Court for the Southern District of Indiana and seeks damages for violations of Title VII of the Civil Rights Act and Section 1981.
Shaffer, who is African American, joined JPMorgan’s Indianapolis branch in 2023 after leaving a position at Bank of America in New York. According to the filing, Shaffer accepted the role of Executive Director SC Banker with the expectation of participating in the bank’s Performance-Based Incentive Compensation Plan. The lawsuit includes a claim of promissory estoppel, citing the cross-country relocation Shaffer and his family undertook based on the professional opportunities and career advancement promised by the bank.
The legal filing details a series of actions by Shaffer’s manager, a Managing Director and Market Manager identified as Caucasian, which the plaintiff characterizes as discriminatory. Shaffer alleges that shortly after his arrival, his manager required him to move his workstation directly in front of hers to "keep an eye on him," a requirement not imposed on his white colleagues. The complaint further asserts that Shaffer was systematically sidelined from business leads, which were instead directed to non-African American peers. Shaffer claims that while his colleagues received active assistance in building and maintaining client relationships, he was frequently excluded from such support.
Financial impacts are a central component of the allegations. Shaffer claims his manager frequently canceled his scheduled client travel, which directly resulted in the loss of commissions. In one instance, a significant prospect involving a college endowment was allegedly reassigned to another market after the manager had previously agreed it belonged to Shaffer’s portfolio. Additionally, the lawsuit claims a senior leader routinely sat in on Shaffer’s client meetings—a practice not applied to his peers—which the plaintiff argues undermined his professional standing and authority.
The complaint alleges that Shaffer’s attempts to address these issues through internal Human Resources channels were met with retaliation rather than resolution. Shaffer states he was the only African American Executive Director on his specific team and notes that another former African American direct report of the same manager has also filed a charge with the Equal Employment Opportunity Commission alleging similar conduct.
JPMorgan Chase has not yet issued a formal response to the specific allegations in the Shaffer filing. The bank has historically maintained that it takes all reports of discrimination seriously and has policies in place to prevent and correct retaliatory conduct. This case follows other legal challenges facing the bank regarding its internal culture, including a proposed class action filed in late 2025 concerning recruitment procedures.