Bank of America has discriminated against female employees in terms of the salaries they are paid compared to male employees a court ruled. The bank agreed to settle the case which 4,800 current and former employees had signed on to. The settlement is in the amount of $39 million dollars.
As part of the agreement, Bank of America will hire an independent inspector to monitor the way in which their pay processes work as well as how teams formed inside the bank operate. That inspector is going to be in place for 3 years.
As part of the settlement, Bank of America is not required to admit to any wrongdoing. Some who have lead the plaintiff's case have objected to the settlement as too low of a number and as the inspector process as not being adequate. What happens next is yet to be seen.