Bank of America Resolves Overtime Suit Over PPP Loan Processing

New York workers for Bank of America NA agreed to dismiss their suit alleging the bank failed to properly pay them overtime wages for their work on Paycheck Protection Program loan processing.

Diane Coluzzi, Michael Marchelos, and Gary Lieb said in their proposed class action that Bank of America promised various incentives for workers who processed PPP loans. However, the group of loan officers and credit solutions advisers alleged in the US District Court for the Southern District of New York that the additional compensation wasn’t included when calculating overtime wages. The workers alleged that the PPP loan processing regularly ...