Bank of America is trying to block a shareholder motion that would limit "white men'' to no more than half the nominations to its board.

Bank of America is trying to block a shareholder motion that would limit ``white men'' to no more than half the nominations to its board. The bank took steps to exclude the motion from the vote at the planned stockholders' meeting due to take place on April 27. The bank has asked regulators to allow it to exclude the proposal from the materials it must send out to stockholders in advance of the meeting.BofA argues the proposal would violate federal and state law, including the 1964 Civil Rights Act, by introducing a rigid ``quota requirement'' and by forcing it to hire or promote on the basis of ethnicity. As a result, the bank argued, even if stockholders supported the proposal the company would not have the legal power to implement it. BofA also argued it has ``a very strong commitment to diversity in all aspects of its operations'' and that the 17-member board already includes three women, one African-American and one Hispanic. The bank, which last year acquired FleetBoston for $48 billion, has received outside recognition for its commitment to diversity. Four years ago, it received the highest rating of any major bank in an NAACP survey based on minority employment and community reinvestment, among other measures. Fortune magazine also rates BofA among America's top 50 employers for minorities. Nick Rossi, the stockholder behind the motion, could not be reached for comment. He holds $31,000 worth of BofA shares. [more]