BofA Hit With Financial Adviser Trainee OT Suit

Law360, New York (July 18, 2011, 4:58 PM EDT) -- A Merrill Lynch & Co. Inc. financial adviser filed a putative collective action in Florida on Friday accusing Bank of America NA of systematically refusing to pay trainees for overtime work.

Elvin Moore sued Bank of America under the Fair Labor Standards Act seeking back wages and interest on behalf of all financial adviser trainees who worked for the company within the last three years.

As a matter of policy, the company maintains that trainees will not work more than 37 1/2 hours a week —...
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