|
 Printer-Friendly Version
Archived News Release--Caution:
information may be out of date.
For more information call: (202) 693-4650
Fifth Third Bank will pay $440,000 to resolve allegations of race and
gender discrimination at its Cincinnati headquarters as part of an agreement
with the U.S. Labor Department. The agreement, with the department's Office of
Federal Contract Compliance Programs, provides back pay for 75 minority
applicants for entry-level clerical and teller positions and 26 women
professionals and managers who were paid less than their male counterparts.
"We found that qualified minority entry level applicants were being
screened out because the bank was not properly monitoring and documenting its
application and hiring processes," Secretary of Labor Alexis M. Herman said.
"At the same time, women professionals and mid-managers were paid less than men
with similar titles and responsibilities. This agreement will correct those
inequities and help assure equal opportunities for all Fifth Third Bank
employees in the future."
As a federal depository and paying agent for U.S. savings bonds, Fifth
Third is a federal contractor and must adhere to the equal opportunity
requirements of all companies doing business with the federal government. The
department's federal contract compliance office enforces laws prohibiting
federal contractors from employment discrimination.
As part of the settlement, 26 women professionals and managers will get
$247,000 in back pay, interest and salary adjustments. Another $171,000 in back
pay and interest will go to 75 minorities who were denied jobs as clerks and
tellers. The bank will offer jobs to the minority applicants until 20 have been
hired. To prevent pay discrimination in the future, Fifth Third Bank will
allocate $21,000 for annual reviews of its payroll.
"We are very pleased with the high level of cooperation we received from
Fifth Third's top management throughout the review," said Joyce Morgan, acting
regional director for the contract compliance office in Chicago. "This enabled
both sides to work most effectively in reaching agreement and avoiding costly
litigation."
Fifth Third is a diversified financial services company that operates 12
affiliate banks and financial service subsidiaries primarily in Ohio, Kentucky,
Indiana, Arizona and Florida. Violations at the Cincinnati headquarters were
revealed during a corporate management review that began in September 1998.
Corporate management, or glass ceiling, reviews examine barriers that keep
women and minorities from moving into top management and executive positions
and from being paid at rates comparable to their male and non-minority
counterparts.
Archived News Release--Caution:
information may be out of date.
| 
