DOL Accuses Mortgage Broker Of Overtime Pay Violations

Law360, New York (September 12, 2006, 12:00 AM EDT) -- The U.S. Department of Labor has sued an Ohio mortgage company, claiming the broker failed to pay proper overtime wages to its employees.

Alliance Mortgage Group Inc. and Credit Financial Services LLC failed to pay hourly overtime wages to 200 loan officers, the DOL claims. Rather, the company compensated the employees for overtime in monthly commission payments, or wages that were below federal standards.

The suit, filed in the U.S. District Court for the Southern District of Ohio, alleges that Alliance violated the Fair Labor Standards...
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