Bank Behind Fearless Girl Statue Settles Gender Pay Dispute
- Audit in 2012 found more than 300 women paid less than men
- State Street says it’s ‘committed to equal pay practices’
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State Street Corp., the $2.6 trillion asset manager that installed the Fearless Girl statue on Wall Street, agreed to settle U.S. allegations that it discriminated against hundreds of female executives by paying them less than male colleagues.
The custody bank will pay $5 million to more than 300 women, following a U.S. Department of Labor audit that uncovered the alleged discrepancies, according to a settlement agreement disclosed Wednesday.