Financial services giant accused of gender discrimination

On Behalf of | Jan 21, 2017 | Employment Law

JPMorgan Chase & Co. is said to be the biggest banker in the United States. Its 22-story Chase Tower sits along the river in downtown Milwaukee. However, the financial services giant is facing allegations that it paid at least 93 female tech workers less than it paid similar male employees, according to a Department of Labor complaint.

The action was taken by the department’s Office of Federal Contract Compliance. If an administration judge rules against JPMorgan Chase in this matter of gender discrimination, and the company then fails to follow directives, it could see all its federal contracts cancelled and be banned from future contracting with the federal government.

JPMorgan has been paid more than $145 million since 2012 under federal contracts it has with about two dozen agencies, a Department of Labor spokesperson told Bloomberg BNA.

The OFCCP recently settled a pay discrimination claim filed against LexisNexis Risk Solutions and with Ameriprise Financial Inc. late last year.

An audit by the OFCCP reportedly revealed a significant pay disparity between men and women who were in several tech-related positions at JPMorgan Chase. The agency is requesting on behalf of the workers lost pay and interest, as well as adjustments to current salaries and benefits.

A company spokesperson said the first has tried to resolve the matter with the OFCCP, but now looks “forward to presenting our evidence to a neutral decision maker.”

If you want to discuss pay discrimination on the basis of gender, disability, age or other factor, contact an employment law attorney at Alan C. Olson & Associates, s.c.


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