Wells Fargo To Pay $15M In Wage-and-Hour MDL

Law360, New York (March 26, 2014, 1:58 PM EDT) -- Wells Fargo & Co. will fork over $15 million to settle the claims of nearly 4,500 home mortgage consultants in a collective action in Texas federal court alleging that the bank and its predecessors failed to pay them overtime, according to documents filed Tuesday.

In an unopposed motion, plaintiffs in two of the six initial Fair Labor Standards Act cases against the bank that have been rolled into multidistrict litigation urged the court to grant approval of the $15 million settlement in exchange for a dismissal...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

In Re: Wells Fargo Wage and Hour Employment Practices Litigation (No. III)


Case Number

4:11-md-02266

Court

Texas Southern

Nature of Suit

710(Labor: Fair Standards)

Judge

Judge Gray H Miller

Date Filed

August 18, 2011

Law Firms

Companies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.