Feds Say JPMorgan ‘Significantly’ Underpaid Women

WASHINGTON (CN) – Federal labor authorities brought a complaint Wednesday against JPMorgan Chase & Co., saying its female employees earn less than men in comparable positions.

Citing a compliance review of the bank as a government contractor, the Office of Federal Contract Compliant Programs says that at least 93 women earned less than male counterparts since at least May 15, 2013.

JPMorgan employed all of the affected women in a unit called Investment Bank, Technology & Market Strategies. The women worked as technology directors or as project manager, application developer lead II and application developer lead V.

Spokeswoman Tasha Pelio said JPMorgan will prevail before the Labor Department’s Office of Administrative Law Judges, where the OFCCP filed its case.

“JPM is committed to diversity in the workplace,” Pelio said. “We tried to work with the OFCCP regarding this matter and resolve any concerns. We are disappointed that the OFCCP chose to file a complaint, but look forward to presenting our evidence to a neutral decision maker.”

Alleging sex discrimination in violation of Executive Order 11246, the OFCCP contends that the affected women earned “significantly less than their male counterparts.”

“This compensation disparity remains after adjusting for differences in legitimate compensation-determining factors,” the complaint states.

The OFCCP contends that its attempts to secure compliance by the bank, one of the world’s largest, were unsuccessful. 

If JPMorgan fails to make up for the discrimination with salary adjustments and other relief, the OFCCP says the bank will be subject to an order canceling all of its government contracts.

Labor Department attorney Alexander Kondo filed the administrative action with help from McGuire Woods attorney William Doyle of Raleigh, N.C.

%d bloggers like this: