Mortgage Loan Officer Files Lawsuit for Employee Misclassification
January 21, 2011
Our Riverside employment attorneys have been following a recent class-action lawsuit initiated in federal court by a former mortgage consultant, who claims that Minneapolis-based mortgage company Cascade Mortgage Inc., engaged in employee misclassification by classifying him as exempt from overtime and minimum-wage requirements, violating both Minnesota state law and the Fair Labor Standards Act, (FLSA).
In his employee misclassification lawsuit, Robert Clausen claims that Cascade Mortgage Inc., and the company's owners should be held accountable for failing to pay him and other mortgage consultants proper overtime and minimum wage compensation that should be available to them under state and federal law.
As our Newport Beach labor and employment attorneys have discussed in a recent blog, employee misclassification is plaguing the workplace, with many employers reclassifying their workers from "employees" to "independent contractors," to lower the cost of workers' compensation insurance and to avoid having to pay payroll taxes, overtime compensation, social security and unemployment benefits, along with other wage and hour benefits like providing rest breaks and meal periods that were previously offered to workers who were classified as "employees."
According to Clausen's attorney, many mortgage companies have altered their pay practices over the past ten years in order to properly compensate mortgage officers with overtime and minimum wages that are in accordance with state and federal wage and hour laws--whereas Cascade is being accused in the lawsuit of failing to make this employment change.
In Orange County, California, Howard Law, PC represents individuals and groups in class action employee misclassification lawsuits who have experienced wage and hour violations and are seeking recovery. Contact our attorneys today for a free consultation about your employment rights at 1-800-872-5925.
Ex-mortgage Officer Files Wage Suit Against Cascade, TwinCities.com/Pioneer Press, January 14, 2011
Loan Officer Class Action Seeks Overtime Wages From Mortgage Company, Mortgageorb.com, January 17, 2011
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