Deutsche Bank is halting plans to add 250 jobs in North Carolina because of a state law limiting protections for lesbians, gays and transgender people.
Previously, the bank had planned to add the jobs through next year in Cary.
But co-executive officer John Cryan said the company is "unwilling to include North Carolina in its US expansion plans for now", because of the law.
He said the German bank may revisit the plans later.
The bank currently employs 900 people at a Cary software development centre, and it said it plans to sustain that existing operation.
The law passed last month overrules LGBT anti-discrimination measures passed by local governments.
It also excludes sexual orientation and gender identity from the state's anti-discrimination policy.