Employment News & Info

$16M Settlement Awarded to PNC Bank Employees

How often do you look at your pay stub? Do you know how much you should be paid each pay period? Would you notice unfair deductions if they were occurring? It pays to be aware of your financial standings with your employer.

PNC Bank has agreed to settle an overtime suit filed by employees. The company will pay $16 million to workers who say they were not fairly compensated for their overtime work.

Four mortgage loan officers in Florida and Ohio began the collective-action lawsuit back in the summer of 2015. They alleged that the Pittsburgh-based PNK Bank asked employees to work overtime – frequently from outside the office – but discouraged them from recording the extra hours. PNC Bank also allegedly failed to properly compensate these employees for the overtime they did record. Instead, inappropriate deductions were made from employee’s paychecks.

The employees involved in the lawsuit were paid an annual salary of $24,000 based on a 40 hour work week, plus commissions. In the lawsuit, they argued that they were not exempt from overtime. Though PNC Bank has admitted no wrongdoing, they did agree to pay the 17 current former loan officers to settle the case.

Unfortunately, the suit alleges that these practices likely occurred in PNC offices throughout the United States. Far from the first time PNC Bank has gone to court over unpaid overtime, the company settled a $7 million lawsuit in 2011 after misclassifying mortgage loan officers as exempt from overtime pay.

This lawsuit goes to show how carefully employees need to monitor their paychecks. Even when on good terms with your employer, it pays to keep an eye on deductions and overtime pay. If you have any concerns about being fairly compensated for the hours you work, we encourage you to reach out to our team for a free, no-risk consultation.

Wage & Overtime Lawyers

If you are independent contractor, but your hours, work attire, pay, etc., are controlled by a client, you may be misclassified. The nature of your relationship with a client could deem you an employee, and as an employee you are eligible for benefits such as overtime pay. You could be owed unpaid wages. Contact our Unpaid Wage & Overtime Lawyers to discuss your situation 877-544-5323.

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*Prior results to do not guarantee a similar outcome.