Mortgage Loan Officers File Suit for Unpaid Overtime

Bill Tucker

Attorney
(866) 735-1102 Ext 379

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Loan Officers for American Equity Mortgage recently filed a national class action lawsuit alleging that their employer misclassified them as exempt from the Fair Labor Standards Act, and seeking recovery of unpaid overtime compensation. This lawsuit is part of a growing trend of lawsuits filed by "white collar" workers in the financial, pharmaceutical, computer, IT, service and other industries seeking to collect unpaid overtime, and alleging that their employers misclassified them as exempt from the overtime pay requirements of the FLSA. The general rule under the FLSA is that all employees are entitled to overtime unless the employer can show that the employee qualifies for a specific exemption under the Act. For a variety of reasons, many employees who are entitled to overtime pay are misclassified as exempt. For instance, although the analysis of whether an employee qualifies for an exemption is based primarily on the employee's specific job duties, many employers simply classify all of their employees who are paid on a salary basis as exempt without regard to the tasks that they perform. If you would like to know more about your rights under the FLSA, please click the Ask an Attorney feature on this site.