Standard Logo - Full Color-300
Client Login

JPMorgan Enters into Conciliation Agreement to Resolve OFCCP Claims of Wage Discrimination

By OutSolve - Nov 16, 2020 10:03:01 AM - 1 MINS READ

JPMorgan to pay nearly $800,000 in back wages to affected women

JPMorgan Chase entered into an early resolution conciliation agreement with OFCCP on November 2, 2020 to resolve claims of wage disparity among female employees. The settlement brings closure to nearly four years of litigation after OFCCP filed suit in 2017 (see previous blog) during a functional AAP review.

JPMorgan has agreed to fund an escrow account with $800,000 in back pay and interest that is accessible to a third-party settlement administrator for distribution to affected women. The company also agreed to conduct annual pay equity analyses and provide reports on the company’s compliance for the next five years. Additionally, the company will allocate a minimum of $1,800,000 per year for a five-year period for a total of $9,000,000 for annual pay adjustments to women and minorities.  

In signing and maintaining compliance with the agreement, OFCCP will close all pending JPMorgan audits and the company will be exempt from new audits for at least seven years.

Press release


Related Posts:

OFCCP Surprises Contractors by Closing the Contractor Assistance Portal

Mar 1, 2021 3:55:16 PM - READ TIME 1 MINS

Contractors may still call OFCCP’s toll-free help line or ask a question through the help desk onlin...

OFCCP Appoints a New Chief of Staff

Feb 24, 2021 1:54:21 PM - READ TIME 2 MINS

Dariely Rodriquez comes to OFCCP with 14 years of experience in the civil rights arena

Leave a Comment

Latest Posts

Starting a Company Mentoring Program for Veterans
Nov 16, 2020 10:03:01 AM - 1 MINS READ
Two Hotel Companies Involved in Pay Discrimination Lawsuits
Nov 16, 2020 10:03:01 AM - 1 MINS READ
OFCCP Appoints a New Chief of Staff
Nov 16, 2020 10:03:01 AM - 1 MINS READ