BofA's Countrywide Can't Lower Pay Rate In OT Suit

Law360, New York (May 1, 2013, 4:57 PM EDT) -- A California federal judge decided Monday that any damages won by employees of the subprime mortgage division of Bank of America's Countrywide Financial Corp. in a class action for unpaid overtime should be calculated at time-and-a-half, a higher rate than the company had wanted.

U.S. District Judge Josephine Staton Tucker ruled that the amount of overtime owed to the nationwide class, made up of branch account executives for Full Spectrum Lending Inc. who said that for years they were misclassified as overtime-exempt, should be determined at...
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