TD Bank NA has agreed to pay $9.9 million to settle a class and collective action alleging that the bank has failed to pay assistant store managers overtime wages. A motion has been filed seeking preliminary approval for the settlement. It was alleged that TD Bank had improperly classified the class members as exempt from federal and state overtime requirements.
The Plaintiffs filed suit against TD Bank in February 2013 and subsequently filed two amended complaints, the most recent of which asserted claims for violations of the Fair Labor Standards Act (FLSA) and New York, New Jersey and Pennsylvania wage-and-hour laws. Despite the class members’ managerial job titles, they perform nonexempt, nonmanagerial duties, such as serving as bank tellers, counting money in the vault and opening and closing branches.
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