PNC settles overtime suit for $16M – CPBJ

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PNC Settles LO Overtime Lawsuit. Originators alleged PNC failed to properly pay overtime. april 11, 2017. A settlement has been reached in a lawsuit alleging that The PNC Financial Services Group Inc. failed to properly pay overtime to loan officers.

PNC Bank has agreed to pay $16 million to settle claims that it did not fairly pay some of its employees for overtime work, according to documents filed in Pennsylvania’s Western District Court.

PNC Financial Services traces its history to the Pittsburgh Trust and Savings Company which was founded in Pittsburgh, Pennsylvania on April 10, 1845. Due to the long recovery from the Great Fire of Pittsburgh, PNC was not fully operational until January 28, 1852. It originally opened offices at Liberty Avenue and 12th Street.

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Law360, Los Angeles (January 5, 2017, 10:34 PM EST) — PNC Bank NA has agreed to pay $16 million to settle Fair Labor Standards Act claims brought by a collective of mortgage loan officers who claim.

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PNC Bank NA has agreed to pay $16 million to settle Fair Labor Standards Act claims brought by a collective of mortgage loan officers who claim they were denied overtime pay and a proper.