CAMBRIDGE, Mass.--(BUSINESS WIRE)--Cambridge Trust Company (OTCQB: CATC) recently announced their plans to be an early adopter of the Massachusetts equal pay law, as part of the City of Cambridge’s Early Adopters Initiative. An Act to Establish Pay Equity is Massachusetts’s new pay equity law that goes into effect July 1, 2018.
“At Cambridge Trust we are committed to gender equality and see our participation in the Early Adopter program as an important step towards closing the gender wage gap,” said Denis Sheahan, Chairman, President, and Chief Executive Officer of Cambridge Trust Company. “Cambridge has always been a leader in equality and economic justice issues and this is only further highlighted by Mayor Simmons’ Early Adopters of Equal Pay Initiative.”
Businesses participating in Cambridge’s Early Adopters Initiative pledge their commitment to close the gender wage gap by embracing the provisions of the new Massachusetts law prior to it taking effect in 2018.
An Act to Establish Pay Equity is a new Massachusetts law that aims to prevent pay discrimination for comparable work based on gender. The bill allows employees to freely discuss their salaries with coworkers, prohibits employers from requiring applicants to provide their salary history before receiving a formal job offer, and authorizes the Attorney General to issue regulations interpreting and applying the expanded law.
About Cambridge Bancorp
Cambridge Bancorp, the parent company of Cambridge Trust Company, is based in Cambridge, Massachusetts, in the heart of Harvard Square. Cambridge Trust Company is a 127-year-old Massachusetts chartered commercial bank with 11 Massachusetts locations in Cambridge, Boston, Belmont, Concord, Lexington, and Weston. Cambridge Trust Company is one of New England’s leaders in wealth management with $2.7 billion in client assets under management. The Wealth Management group maintains offices in Boston, Massachusetts, and Concord, Manchester, and Portsmouth, New Hampshire.