Loan Officers v. PNC Bank Wage and Hour Lawsuit

On September 11, 2024, a former mortgage loan officer in New York filed a class action lawsuit against PNC Bank for unpaid wages and other damages for Mortgage Loan Officers employed by the bank in the New York area and nationwide. The lawsuit specifically seeks to recover unpaid overtime wages and other damages under the New York Labor Law (“NYLL”) and the Fair Labor Standards Act (“FLSA”) for the bank's Mortgage Loan Officers.

The complaint alleges that PNC's management instructed Mortgage Loan Officers to only record a certain number of hours, instead of the hours actually worked, and that MLOs regularly worked over 40 hours per week without proper compensation. Due to the work performed by Mortgage Loan Officers “off-the-clock,” they also were not paid for all of their overtime and the proper overtime rate that should have factored in their commissions. Fitapelli & Schaffer also represents a former PNC Bank mortgage loan officer who worked in New Jersey with claims under the New Jersey Wage & Hour Law and the New Jersey Wage Payment Law.

You may also view the filed complaint here.

FREQUENTLY ASKED QUESTIONS

Why does it matter that commissions weren't factored into overtime?

Under the FLSA, commissions generally must be included when calculating an employee's “regular rate” of pay, which is used to determine the correct overtime rate. The lawsuit alleges PNC's management instructed Mortgage Loan Officers to record fewer hours than they worked, which also understated the overtime they were owed.

Who might be covered by this case?

Current and former Mortgage Loan Officers who worked for PNC Bank in New York, New Jersey, or nationwide and regularly worked over 40 hours a week without full overtime pay.

Do I need to do anything to join this lawsuit?

It depends on how the case is structured. An FLSA collective action generally requires affected workers to opt in, while a class action may include workers automatically. The fastest way to find out where you stand is to contact Fitapelli & Schaffer directly.

What can I recover if this applies to me?

Depending on your circumstances, you may be entitled to recover unpaid wages, overtime, liquidated damages, and other damages tied to the specific violations alleged in this case.

Where can I view the complaint that was filed?

The filed complaint is publicly available as a PDF, linked directly from this page.

CONTACT FITAPELLI & SCHAFFER LLP