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Citizens Bank and Charter One have been hit with a class action lawsuit seeking unpaid overtime wages for their loan officers.
According to the class action lawsuit, RBS Citizens and its related entities, Citizens Bank, Charter One, and CCO Mortgage, misclassified their loan officers across the country as exempt from overtime pay.
The overtime class action lawsuit further alleges that RBS Citizens pays its loan officers on a commission basis, but as of February 2012 will begin paying them on an hourly basis, including overtime pay.
RBS Citizens is headquartered in Providence, Rhode Island and has bank branches under the Citizens Bank and Charter One brand names in Connecticut, Delaware, Illinois, Massachusetts, Michigan, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island and Vermont.
An attorney representing the loan officers said in a statement, “We believe that these loan officers, regardless of their location, are entitled to overtime pay and that RBS violated the overtime laws by failing to pay them appropriately when they worked more than forty hours in a workweek. Our goal is to help them recover their overtime pay.”The overtime class action lawsuit is brought on behalf of all current and former loan officers employed by RBS Citizens, Citizens Bank, Charter One or CCO Mortgage at any office across the country at any time within the past three years who worked overtime. It is seeking damages, civil penalties, prejudgment interest, and more.
A copy of the RBS Citizens Loan Officer Unpaid Overtime Class Action Lawsuit can be read here.
The case is Ginter, et al. v. RBS Citizens, N.A. d/b/a Citizens Bank, Charter One and CCO Mortgage, Case No. 12-cv-8, U.S. District Court, District of Rhode Island.
UPDATE: Citizens Bank and plaintiffs reached a $3 million class action settlement in January 2014 and motioned the court to preliminarily approve the deal.
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