Ex-Loan Officers Slam Money Source With OT Claims

Law360, New York (April 6, 2010, 4:51 PM EDT) -- The Money Source Inc. has been hit with a putative class action by six former loan officers who claim that the mortgage lender improperly qualified them as exempt from overtime and minimum wage requirements, violating the Fair Labor Standards Act and New York state labor laws.

The Money Source “intentionally, willfully and improperly” designated the position of loan officer as exempt from the requirements, the plaintiffs allege in the complaint filed Monday in the U.S. District Court for the Eastern District of New York.

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