Mortgage Consultant OT Case Against Wells Fargo Moves for Conditional Certification

The class action lawsuit for wage and hour violations against Wells Fargo Bank, N.A. that was filed in early March of this year continues to move forward. Fitapelli & Schaffer, LLP has filed a motion with the Court to conditionally certifying an FLSA collective composed of, and send notice to, all persons who worked as Mortgage Consultants (sometimes referred to as loan officers in the industry) for Wells Fargo Bank spanning from three years prior to May 17, 2016, the date the Complaint was filed.

Similarly situated current and former Mortgage Consultants, including, but not limited to: Home Mortgage Consultants, Home Mortgage Consultants, Jr., Private Mortgage Bankers, and Private Mortgage Bankers, Jr, of the bank in this matter are seeking to recover unlawfully withheld overtime compensation based on the company’s improper pay and time-keeping policies that resulted in failure to pay minimum wage and overtime wages at the proper overtime rate to them under the Fair Labor Standards Act (“FLSA”). Similarly situated Mortgage Consultants employed by the bank throughout the United States, anytime between May 17, 2016 and the present, may be eligible to participate in this matter. The Plaintiffs that brought these claims assert that they and the other Mortgage Consultants performing the same material duties regularly worked more than 40 hours in workweeks and that, as a matter of policy, Wells Fargo failed to pay minimum and overtime wages by (1) unlawfully requiring significant off-the-clock work; (2) recapturing wages previously paid to the Mortgage Consultants resulting in the denial of required minimum wage and overtime pay; and (3) failing to properly calculate the regular rate of pay when calculating overtime premiums due.

After providing sufficient evidence, Plaintiffs are hopeful that their proposal of an FLSA collective will be conditionally certified by the Court. This could allow them to notify the proposed eligible group of Mortgage Consultants of their potential right to join this lawsuit. If you have worked for Wells Fargo Bank as a Mortgage Consultant and would like to learn more about this matter, feel free to call us at (212) 300-0375. Additionally, if you have worked in the industry as a mortgage consultant or loan officer and feel you may be experiencing similar pay issues, you can also reach out to us for a free and confidential consultation or visit our website for additional helpful information.