Wells Fargo to Pay $12.8 mln to Settle Overtime Suit

by Mike Bevel, CollectionIndustry.com

Much like the employees at Colorado-based Center Partners, Inc., Wells Fargo employees also want to be paid for the overtime hours they?ve worked. In fact, that?s probably why they worked the overtime hours in the first place: it?s rare to find folks volunteering in a bank.

Wells Fargo & Co., the fifth-largest U.S. bank, has agreed to pay out $12.8 million to settle an employee class-action lawsuit over missed overtime payments.

Not that Wells Fargo thinks they did anything wrong. In a statement, Wells Fargo said the settlement was not an admission of wrongdoing and it believes it had legally paid the employees. Wells Fargo went on to say that it settled “to avoid any further costs to the business and interference with our operations.”

The suit was filed on behalf of 4,500 Wells Fargo employees and former employees who worked as business systems consultants or e-business consultants at the bank.