BofA To Pay $73M To Settle Wage-And-Hour MDL

By Michael Lipkin (December 18, 2013, 4:30 PM EST) -- A Kansas federal judge on Wednesday signed off on Bank of America NA's $73 million settlement to end a multidistrict litigation accusing it of violating the Fair Labor Standards Act by requiring more than 180,000 hourly employees to work off the clock.

U.S. District Judge John W. Lungstrum approved the opt-in settlement, noting that while the court had conditionally certified an opt-in class of retail banking center employees last year, he had expressed reservations about final certification.

"Thus, plaintiffs faced formidable obstacles on the road to ultimate success in this litigation," Judge Lungstrum wrote. "This settlement fairly and reasonably accounts for...

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