Loan Officers Say BofA Misclassified Them To Avoid Overtime Pay

Mortgage loan officers from four states say Bank of America Corp misclassified them as exempt employees under the Fair Labor Standards Act and state laws to avoid paying overtime wages while they regularly worked more than 60 hours a week earning commissions and no salary, according to a new proposed class action.

Since at least 2016, BofA knowingly accepted and effectively required “tens of hours of overtime work from each of the Named Plaintiffs and their thousands of colleagues every regular workweek they were employed,” the complaint filed Thursday in the US District Court for the Western District of North ...