AIG Subsidiary Faces Wage-And-Hour Suit

Law360, New York (April 20, 2007, 12:00 AM EDT) -- A subsidiary of American International Group Inc. has been hit with a proposed collective action lawsuit on behalf of retail loan officers who contend that their employer flouted federal law by failing to pay them overtime compensation.

The lawsuit was filed Wednesday against Pennsylvania-based mortgage lender Wilmington Finance Inc. on behalf of two women who worked as retail loan officers in the defendant's Greenwood Village, Colo. office until June 2006.

While some financial services companies have been sued over misclassifying employees as exempt from federal and...
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