A compliance review leads to a suit against JPMorgan Chase & Co. for discriminatory pay practices against female employees.
The DOL’s lawsuit against JPMorgan Chase & Co. alleges that the financial institution systemically discriminated against female employees in certain professional positions by compensating them less than their male counterparts.
See the full Press Release here: https://www.dol.gov/newsroom/releases/ofccp/ofccp20170118
During the compliance review OFCCP found that – since at least May 15, 2012 – JPMorgan paid at least 93 females employed in Application Developer Lead II, Application Developer Lead V, Project Manager and Technology Director positions within its Investment Bank, Technology & Market Strategies unit, less than comparable men employed in these same positions. This compensation disparity remained after adjusting for differences in legitimate compensation-determining factors. OFCCP also found that JPMorgan failed to evaluate the compensation systems applicable to these employees. Filed with the department’s Office of Administrative Law Judges, the complaint seeks:
• A permanent injunction requiring JPMorgan to comply with the requirements of the Executive Order, and according to regulations. • A permanent injunction prohibiting JPMorgan from discriminating against female employees in compensation. • Complete relief for the affected class including lost pay, interest, salary adjustments and all other lost benefits of employment.
OFCCP is also requesting that if JPMorgan fails to provide the relief as ordered, that the court cancel all of its government contracts and debar JPMorgan from entering into future federal contracts until it satisfies the secretary of labor that its personnel and employment policies comply with Executive Order 11246.
OFCCP filed its complaint after determining that it was unable to secure a voluntary agreement from JPMorgan to take corrective action.