Read the linked story - BofA knows it's illegal, but it was proposed by a minor shareholder and they are asking to get it dropped from the ticket. Goofy rules that they can't just ignore the proposal...
The title kinda says that as well.
I like to apply a little test when debating this kind of crap with lib idiotsto the tune of "how about if we limit category x the way you propose to limit your category y", to which they usually reply something bout that being a racist policy. So I ask them how it can be racist one way, but not the other, then all logic goes out the window and I usually have to suffer a modified-history lesson.