JPMorgan Settles WaMu Loan Underwriters' OT Action
U.S. District Judge Anthony J. Battaglia preliminarily signed off on the $463,000 settlement, which resolves the loan underwriters' claims that WaMu misclassified them as exempt from the overtime pay requirements of California's labor laws and the Fair Labor Standards Act.
The plaintiffs worked for WaMu. The Federal Deposit Insurance Corp. took WaMu into receivorship and then sold certain...
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