Employees v Wells Fargo

Wells Fargo Settles Overtime Class Action Suit

Wells Fargo has settled a class action lawsuit contending the giant San Francisco-based bank had failed to comply with overtime laws.

The bank will put $12.8 million into a fund to be dispersed to about 4,500 current and former employees.

The amount each gets will vary based on length of employment with Wells Fargo & Co. in a covered position, specific position held, salary, and whether the employee worked in California, where the recovery would be greater, or elsewhere.

The lawsuit by Wells Fargo Business Systems consultants and e-Business Systems consultants alleged violations of the Fair Labor Standards Act, California's Unfair Competition Law and wage and hour laws, and the Employee Retirement Income Security Act.

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