Santander Bank Managers’ $4.25 Million Wage Deal Gets Early Nod

A $4.25 million settlement between Santander Bank and nearly 765 business operations managers who sued over unpaid, off-the-clock work was preliminarily approved Wednesday by a federal magistrate judge in New Jersey.

The members of the Fair Labor Standards Act collective and seven state-law classes will likely receive roughly $2.7 million after deductions for attorneys’ fees and expenses, service awards, and administration costs, according to the motion for approval.

Class counsel is expected to receive about $1.41 million in attorneys’ fees, plus undisclosed costs. Counsel will also seek up to $40,000 worth of service awards for the lead plaintiff and ...