The US Department of Labour has filed a lawsuit against JP Morgan for discriminating against females employed within its technology unit, by paying them less than their male counterparts.
The lawsuit maintains the US investment bank’s compensation policies violate an executive order, which outlaws firms from discriminating in employment based on sex.
Since at least May 2012, JP Morgan paid 93 females employed in application developer lead, project management and technology director positions, less than men who held the same positions.
Acting director of the Office of Federal Contract Compliance Programs (OFCCP), Thomas Dowd, explained: “JP Morgan is required to comply with anti-discrimination laws that apply to federal contractors. We filed this lawsuit to enforce those requirements.”
The complaint is seeking a permanent injunction requiring JP Morgan to comply with pay requirements, as well as compensation for those affected by lost pay, salary adjustments and benefits of employment.
“If JP Morgan fails to provide relief as ordered, OFCCP is requesting that the court cancel all of its government contracts and debar JP Morgan from entering into future federal contracts until it satisfies the secretary of labour,” the OFCCP added.