Merrill Lynch Subprime Unit Hit With FLSA Suit
The complaint, filed by lawyers for named plaintiff Chuck MacConnach, accuses Merrill's First Franklin Financial Corp. — a major subprime mortgage lender — of violating the Fair Labor Standards Act.
First Franklin, a former subsidiary of National City Corp., was sold to co-defendant Merrill Lynch & Co. Inc.'s Global Markets and Investment Banking Group in December 2006....
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