American Express Financial Advisors has agreed to pay almost 4,000 women a combined sum of $31 million dollars to settle a lawsuit alleging sexual discrimination in job assignments, career development and pay. The proposed settlement---which has been hailed by the lawyer for the plaintiffs as a major step in the right direction---was the subject of a hearing before a U.S. District Judge in Washington D.C. this Tuesday. In addition to the monetary awards, American Express has also agreed to implement changes to ensure a fair distribution of work and promotions, as well as an improved grievance handling procedure.
See "American Express Unit Agrees to Settle Sex Discrimination Case", JONATHAN D. GLATER, The New York Times, February 20, 2002