Loan Officers v. PNC Bank

Issues: Unpaid Overtime, Unpaid Commissions

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.

These complaints alleges that PNC’s management instructed Mortgage Loan Officers to only record a certain amount of hours, instead of the hours actually worked, 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 LLP also represents a former PNC Bank mortgage loan officer who worked in New Jersey and has claims for unpaid overtime for Mortgage Loan Officers under the New Jersey Wage & Hour Law (“NJWHL”) and the New Jersey Wage Payment Law “(NJWPL”).

If you work for PNC Bank or a similar company in the mortgage industry, make sure you are getting paid for all of your hours worked and at the correct rate. Unfortunately, this industry is notorious for skirting wage laws in order to save on labor costs. You can reach our firm, Fitapelli & Schaffer, LLP, for a free and confidential consultation at (212)300-0375 or you can visit our website for additional helpful information regarding your work rights.

You may also view the filed complaint here.