MetLife Shells Out $2M To End Underwriters’ OT Suit

Law360, New York (August 12, 2011, 7:33 PM EDT) -- MetLife Bank NA said Friday it will pay $2 million to settle a proposed collective action in Pennsylvania federal court alleging it wrongly exempted mortgage underwriters from receiving overtime pay before reclassifying them as nonexempt last year.

The joint settlement motion was filed by MetLife and named plaintiffs Kathleen Visci and Kelly Hayes, on behalf of all eligible employees who worked as exempt mortgage underwriters for MetLife Home Loans during the class period, between June 13, 2008, and Aug. 1, 2010.

"The settlement was the product...
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