JP Morgan Chase & Co. has agreed to pay $800,000 in back pay and interest and set aside $9 million over five years to resolve charges that it has underpaid women in its investment bank and technology and market strategies function since 2012. Beginning in 2021 and continuing for several years, JP Morgan Chase & Co. has agreed to conduct pay equity analyses of U.S. employees to address pay equity for women and minorities. Beginning in 2022 and continuing for several years, JP Morgan & Chase have agreed to make annual pay equity adjustments. If the pay adjustments don't require the full amount set aside, the difference will be used to fund inclusion and diversity efforts and programs.
See "JP Morgan Chase & Co. Settle Department of Labor Claim of Underpaying Female Employees", Lisa Burden, HR Dive, November 10, 2020