$7M PNC Bank OT Settlement Wins Preliminary OK

Law360, New York (January 2, 2014, 5:00 PM EST) -- An Ohio federal judge on Thursday gave preliminary approval to a $7 million settlement between PNC Bank NA and a class of mortgage loan officers accusing the bank of misclassifying them as overtime-exempt employees and making improper deductions from their pay.

U.S. District Judge Algenon L. Marbley of the Southern District of Ohio signed off on an unopposed motion for preliminary approval of the deal and set a Jan. 28 hearing to determine whether the deal should receive final approval.

Judge Marbley said that on first...
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