MLOs Sue Employer Bank in Overtime Wage Class and Collective Action

A large national bank faces a putative class and collective action brought under the Fair Labor Standards Act (FLSA) and multiple state labor laws by a group of MLOs who allege they were not paid minimum or overtime wages since as early as 2016.

The MLOs allege that they were misclassified as exempt under the FLSA and state labor laws, worked on commission and received no salary, and routinely worked overtime.  Allegedly, the bank also failed to keep time records, set regular working hours, or compute overtime under any method permitted by the FLSA.  The MLOs seek certification of a collective action under the FLSA and classes representing Connecticut, Florida, New York, and South Carolina MLOs.

The case is Pfeffer, et. al v. Bank of America Corp., et. al, No. 3:23-cv-813 (W.D.N.C. Nov. 30, 2023).