The settlement is for four years and provides compensation for all women employed as financial advisors in the U.S. branches of the company's brokerage division from Aug. 24, 2003 through March 1, 2008, or in California from June 25, 2003 through March 1, 2008, which is expected to be close to 2, 500 women.

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On October 2, 2001 the Greenspan Fed cut the funds rate 50 basis points to 2.5% and continued cutting the rate to 1.0% on June 25, 2003 on fears of Deflation.

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The Fed slashed its overnight lending rate 50 points, to 1%, as expected on Wednesday, its lowest level since June 2003.

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