PNC Bank NA has agreed to pay $16 million to settle Fair Labor Standards Act claims brought by a collective of mortgage loan officers who claim they were denied overtime pay and a proper commission,
A little over a year since a group of several hundred assistant bank branch managers sued PNC Bank for allegedly denying them overtime pay, a federal judge in Chicago has signed off on a deal to end the litigation for $6 million, which would send around $2,000 on average to each of the allegedly wronged assistant managers and $2 million to the attorneys who brought the case.
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PNC settles overtime suit for $16M – CPBJ PNC Financial to Settle Acquired Bank’s Home Loan Lawsuit. – The PNC financial services group, Inc. (PNC) has agreed to pay atleast million to settle a class-action lawsuit against Community Bank of Northern Virginia.
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PNC Bank will pay its some of its mortgage loan officers million to settle a lawsuit brought under the Fair Labor Standards Act. The mortgage brokers claimed they were denied overtime and proper commissions. The case was originally filed by 4 loan officers in August, 2015. PNC employs loan officers throughout the United States.
LOS ANGELES – PNC Bank recently agreed to a $16 million settlement to resolve an ongoing class action overtime pay lawsuit with mortgage loan officers over allegations that the company used a variety of methods to cheat workers out of hard earned overtime. The settlement covers an estimated 3,400 loan officers across the country with compensation based on the number of weeks each class.
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