Firm behind 'Fearless Girl' statue OKs equal pay settlement

Updated 10/5/2017 5:55 PM

BOSTON -- The financial services firm behind Wall Street's "Fearless Girl" statue has agreed to pay $5 million to settle federal allegations that it paid female executives less than their male counterparts.

The agreement follows a U.S. Department of Labor probe into Boston-based State Street Corporation.

Investigators say their analysis concluded that State Street had paid female executives less in base pay, bonus pay and total compensation than similarly situated males in the same positions.

A spokeswoman for the company said Thursday that State Street disagrees with the analysis but opted to bring the six-year-old matter to a resolution and move forward.

In a statement the company says it's "committed to equal pay practices and evaluates on an ongoing basis our internal processes to be sure our compensation, hiring and promotions programs are nondiscriminatory."

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