The overtime lawyers at Morgan and Morgan are currently investigating claims made by a class of Bank Branch Loan Officers that Chase Home Finance did not compensate them properly for the overtime hours they worked. Newhall v. Chase Home Finance LLC was filed on May 28, 2010, in the United States District Court, District of New Jersey. The complaint alleges that Chase Home Finance violated the Fair Labor Standards Act by failing to provide time-and-a-half pay to its Bank Branch Loan Officers for the overtime hours they worked.
According to the Fair Labor Standards Act (FLSA), employers are required to compensate non-exempt workers at a rate of one-and-one-half times their regular rate for all hours worked in excess of forty hours in a week. Deputy Administrator Nancy J. Leppink of the U.S. Department of Labor recently issued a letter stating that mortgage loan officers are typically entitled to overtime pay. However, Newhall v. Chase Home Finance LLC alleges that Chase Home Finance failed to pay its Bank Branch Loan Officers the overtime pay that they are entitled to under federal law.
In addition to working all branch hours (9:00 a.m. to 6:00 p.m., Monday through Friday and 9:00 a.m. to 3:00 p.m. on Saturday), the Bank Branch Loan Officers were also required to report to their assigned branch at least thirty minutes early each day in order to participate in the morning “huddle.” Instead of receiving overtime pay for these additional hours worked, the Bank Branch Loan Officers were paid either their non-refundable draw of $2,000 per month or their commissions earned, whichever was greater. Newhall v. Chase Home Finance LLC also alleges that Chase Home Finance failed to maintain proper time records for its employees, which is required by the FLSA.
The unpaid overtime attorneys at Morgan & Morgan will attempt to recover unpaid back wages, liquidated damages, and attorney’s fees for the Bank Branch Loan Officers who did not receive proper overtime compensation. For more information about Newhall v. Chase Home Finance LLC, please visit http://www.usovertimelawyers.com/chase_home_finance_overtime_lawsuit.html or call (877) MORGAN-LAW.
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