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SAN FRANCISCO (AP) - Citigroup Inc. has agreed to pay $33 million to about 2,500 current and former female brokers at the company's Smith Barney subsidiary to settle a discrimination lawsuit.
A federal judge in San Francisco still has to approve the proposed settlement of a lawsuit filed by four women in 2005 that accuses company managers of doling out clients disproportionately to male brokers.
Citigroup also agreed to change the way it awards bonuses and partnerships and alter how accounts are assigned, according to court documents.
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