07:59 AM EST, 01/15/2025 (MT Newswires) -- Mastercard ( MA ) has agreed to pay $26 million and review its employment practices to settle a lawsuit alleging that it discriminated against female, Black, and Hispanic employees by assigning them to lower job levels, according to a court filing on Tuesday.

The lawsuit, filed by four former employees in New York federal court, accused Mastercard ( MA ) of treating female, Black, and Hispanic employees "less favorably than similarly situated white and male comparators" in terms of pay, job level, and promotions.

The monetary settlement covers alleged backpay payments and other damages, according to the filing. Mastercard ( MA ) also agreed to extend its annual pay equity audit process and hire an industrial psychologist to review the company's career ecosystem, the document showed.

The settlement is pending approval by a federal judge.