If you work as a loan officer for Bank of America, you may be eligible to file an overtime claim for unpaid wages. Under federal and state labor laws, you are not allowed to work past the scheduled start time of your shift without being paid for the extra hours. You can also recover up to twice the amount of unpaid overtime wages or three years’ worth of pay. Here are some tips for filing a claim and getting the compensation you deserve.
Bank of America violates federal and state labor laws
A new lawsuit alleges that Bank of America has failed to properly pay its employees by denying them meal breaks and rest periods. In addition, the bank has been accused of failing to pay workers in a timely manner when they are terminated for not meeting their hours. However, Bank of America maintains that it is compliant with all applicable federal and state labor laws. The bank also says it has comprehensive policies and training to ensure it adheres to these laws.
The federal government enacted the Fair Labor Standards Act in 1938 and made it easier for employers to comply with the Fair Labor Standards Act. But despite these laws, many employers fail to comply with them. Bank of America, for example, does not obligate its employees to pay overtime. Instead, it obligates itself to make the proper payment for hours worked. The failure to comply with these laws carries serious penalties, including the loss of wages and the threat of legal action.
Bank of America refuses to pay overtime pay
A class-action suit filed by Bank of America loan officers alleging that they were not paid overtime for the work they performed has settled for $9 million. The bank’s workers sold mortgages and personal loans and alleged that they were wrongly denied overtime pay. Under California wage and hour laws, banks were required to pay loan sellers overtime for the hours they worked despite receiving commissions for their work.
The bank is accused of failing to provide employees with accurate wage statements and requiring employees to work during unpaid breaks and meal breaks. The bank also allegedly failed to timely pay employees who quit or were terminated, despite enforcing its comprehensive policies and training. The bank has denied all of the allegations and has agreed to settle the lawsuit in a confidential settlement for nearly $2 billion.
The company’s reclassification of some loan officers from exempt to non-exempt status left them unpaid for overtime hours. They were then informed of their right to back pay and the lawsuit filed by three current and former employees. The lawsuit cites the bank’s failure to provide an adequate timekeeping system. As a result, the loan officers filed suit in federal court in Atlanta alleging that the company violated the Fair Labor Standards Act.
