WaMu Settles OT Class Actions For $38M

Law360, New York (June 29, 2009, 12:00 AM EDT) -- Washington Mutual Bank has agreed to pay $38 million to resolve three class actions accusing the bank of failing to pay overtime to a group of about 4,000 current and former loan consultants across the U.S.

Magistrate Judge Joan M. Azrack of the U.S. District Court for the Eastern District of New York on Friday conditionally certified classes of current and former employees in eight states and a nationwide collective action under the Fair Labor Standards Act.

The judge preliminarily approved the settlement and named Nichols...
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