AmEx Settles $31m Discrimination Case

The settlement will involve up to 4,000 female financial advisers as three of their number took on the financial giant and won, claiming sex and age discrimination and unequal pay.

The three women claimed that American Express Financial Advisors steered client leads and top accounts to male advisors and gave them preferential treatment when it came to training, mentoring and promotion.

The company has undertaken to pay attorney fees and costs for the women and has agreed to appoint a field diversity officer to implement and monitor internal changes to its procedures.