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Labor/Employment

Aug. 11, 2010

Wells Fargo Settles Overtime Lawsuit

Wells Fargo & Co. has agreed to pay $20 million to settle the claims of a nationwide class of mortgage consultants who alleged the bank misclassified them as exempt from overtime.

By Rebecca Beyer

Daily Journal Staff Writer

SAN FRANCISCO - Wells Fargo & Co. has agreed to pay $20 million to settle the claims of a nationwide class of mortgage consultants who alleged the bank misclassified them as exempt from overtime.

At a hearing on the settlement Monday, U.S. Senior District Judge Marilyn H. Patel indicated she would approve the agreement after the plaintiffs' attorneys further documented their ...

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