Bank of America Faces New Loan Officer Wage Suit

Law360, New York (February 8, 2012, 4:28 PM EST) -- An ex-Bank of America Corp. loan officer lodged a putative class action Tuesday in California accusing his former employer of failing to compensate workers in his position for overtime and paying less than minimum wage by falsely categorizing the job as exempt.

Thad King alleges the company violated the Fair Labor Standards Act and the California Labor Code by incorrectly classifying loan officers as salaried exempt employees from February 2010 until July. Even after Bank of America reclassified the loan officers as hourly employees in July,...
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