Mastercard to pay $26 million to settle gender and race bias class action suit

Mastercard is to pay $26 million to settle accusations that for years it underpaid famale, black and hispanic employees.

  1 Be the first to comment

Mastercard to pay $26 million to settle gender and race bias class action suit

Editorial

This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community.

The settlement was revealed in court documents filed in New York. The class action complaint against the card scheme alleged that Mastercard underpaid roughly 7,500 employees across the country starting in 2016.

The suit alleged that Mastercard routeinly assigned employees to jobs below their pay grade and paid them less than white counterparts doing similar work.

ASs part of the agreement, Mastercard also agreed to conduct annual pay equity audits for three years and hire a psychologist to assess bias in its workplace.

A Matercard spokesman said that the company strongly denied the allegations but decided "it is in the best interest of all involved to bring this matter to a close”.

Sponsored [Webinar] Conducting the payments orchestra: Why IT will drive future transaction banking models

Related Company

Keywords

Comments: (0)

[New Report] UK Open Banking API Performance 2023-2024Finextra Promoted[New Report] UK Open Banking API Performance 2023-2024