BofA Faces Mortgage Loan Officer FLSA Action

Law360, New York (January 6, 2011, 8:21 PM EST) -- Bank of America NA has been hit with a putative class action alleging the bank misclassified its mortgage loan officers as exempt from overtime under federal wage law.

Loan officer William Rushforth brought the suit in the U.S. District Court for the Southern District of Texas on Wednesday, claiming that the financial services giant acted in bad faith and violated the Fair Labor Standards Act when denying him and fellow mortgage loan officers overtime pay.

Rushforth said that he worked entirely on commission and did not...
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