Loan Officers Win Class Cert. In Money Source OT Suit

Law360, New York (May 13, 2011, 12:04 PM EDT) -- A New York federal judge granted certification Wednesday to a collective action brought by loan officers for The Money Source Inc. who allege the mortgage lender improperly qualified them as exempt from overtime and minimum wage requirements.

According to the complaint filed in April 2010, Money Source required loan officers to come to work early, leave late and work weekends without paying them overtime. The company also failed to maintain accurate time records, a violation of the Fair Labor Standards Act and New York state labor...
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