OVERVIEW OF THE CASE AND ONGOING INVESTIGATION
Stueve Siegel Hanson LLP files FLSA collective action lawsuits against multiple lending institutions for failure to pay overtime compensation.
Stueve Siegel Hanson LLP has filed numerous actions against multiple banks and lending institutions seeking to recover unpaid overtime owed to individuals employed as loan originators (a/k/a loan officers or loan consultants) and loan processors. The current defendants are Texas Capital, Wells Fargo and National City Mortgage. Our investigation has revealed that the misclassification of loan originators and processors as exempt is an industry-wide practice. Cases brought against Principal Financial, National Bank of Kansas City, Bank of Blue Valley, NovaStar, First Franklin, Premier Bank and Open Door Lending have all recently settled. Our lawsuits against NovaStar and National City have been certified by federal courts as nationwide collective actions.
Click here to view the NovaStar collective action order.
Our lawsuits seek three years of unpaid overtime as well as the mandatory double-damages penalty required by law. The loan originators and loan processors we represent regularly worked far in excess of 40 hours a week. Some were highly compensated and the amount of overtime pay they are owed is substantial.
NEWS COVERAGE
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- 07/24/06 Article from MO Lawyers Weekly.
- 1/25/06 Article in Business Journal Employees take overtime wage disputes to court.
- 1/25/06 Article American Banker Online Loan Officers Seeking Overtime.
- Article in Kansas City Star regarding Settlements with Bank of Blue Valley, National Bank of Kansas City and Principal Residential Mortgage.
- Article in Kansas City Star regarding loan processor overtime lawsuit.
- 10/20/04 Kansas City Star article "Denied overtime, loan officers sue thier employers".
WHO IS ELIGIBLE TO JOIN THESE ACTIONS
If you worked as a loan originator (a/k/a loan officer or loan consultant) or a loan processor with any bank or other mortgage lender at anytime within the last three years, and you were not paid overtime, you may be eligible to participate in the legal action we are pursuing. Please complete the following form as soon as possible. The form will be sent directly to us, and we will contact you about joining one of our current cases or initiating a new one. If you have any other questions, please contact George Hanson or Virginia Crimmins at (816)714-7100 or toll free (800)714-0360.
