State Street Female Executives to Get $5M Pay-Bias Settlement (UPDATED)

State Street Corp. will pay $5 million to settle Labor Department allegations that the company discriminated against more than 300 female executives by paying them less than male colleagues.

This is the largest pay discrimination settlement collected by the DOL’s Office of Federal Contract Compliance Programs, at least since the agency made pay equity one of its top enforcement priorities under the Obama administration. It’s also the largest overall settlement collected by the agency since at least 2015.

The OFCCP earlier this year settled pay bias claims with LexisNexis Risk Solutions, Qualcomm, LabCorp, B&H Foto & ...