Wells Fargo Strikes $6.6M Deal To End OT Class Action

Law360, New York (April 27, 2010, 3:48 PM EDT) -- Wells Fargo Bank NA has agreed to pay $6.6 million to settle a consolidated class action accusing the company of failing to pay its mortgage loan processors overtime and violating meal and rest period regulations.

A motion to preliminarily approve the settlement was filed Monday in the U.S. District Court for the Northern District of California. Class members, which total over 2,000 employees, will be eligible to receive $5.2 million, and the other $1.4 million will pay attorneys' fees.

"The settlement brings class members significant monetary...
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