Bank Loan Officers Bring Suit for Unpaid Overtime-Claims Should Not Have Been Paid Commission Only

We have blogged before about the requirements of the Fair Labor Standards Act and some of its exemptions.  For years, many banks have been trying to avoid paying overtime to loan officers, paying them on a commissions only basis and trying to invoke an inapplicable exemption to prevent having to pay overtime.

Some of the  laws on this issue are starting to change and hopefully  more bank employee will come forward with these types of claims.

A former loan officer has filed a lawsuit against an East Texas bank for violating federal labor regulations by not paying its loan officers overtime wages.
Claiming violations of the Fair Labor Standards Act, Dennis Rock, on behalf of himself and all others similarly situated, filed suit against Great Western Financial Services Inc., Fred E. McDonald III and Fred E. McDonald IV on Nov. 23 in the Eastern District of Texas, Sherman Division.

Rock was employed as a loan officer for the defendants from approximately April 2010 to approximately December 2010. According to the lawsuit, he and the class members routinely worked in excess of 40 hours per week. They were paid on a commission-only basis and were not paid overtime pay for the hours worked in excess of 40 per week.

“Defendants knowingly, willfully, or with reckless disregard carried out its illegal pattern or practice of failing to pay overtime compensation with respect to Plaintiff and the Class Members,” the lawsuit states.

The plaintiff is seeking damages for unpaid back wages, liquidated damages, court costs, attorney’s fees and interest.

If you believe you may be owed unpaid wages or overtime, contact Scott Behren and the Behren Law Firm for a free consultation.

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