Loan Officers Hit Americash With Overtime Action

Law360, New York (May 14, 2010, 5:05 PM EDT) -- Mortgage loan originator Americash has been slapped with a proposed collective and class action accusing it of not paying its loan officers overtime wages and minimum wage as required by federal and California law.

The suit, filed Wednesday in the U.S. District Court for the Central District of California, accuses Americash and its owner Paul Giangrande of not properly paying loan officers over the past several years.

“Despite the clear law that mortgage loan officers should be nonexempt employees, employers are still failing to pay loan...
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