Loan Officers Claim Banner Bank Miscalculates Overtime Wages

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Two former and current employees of Banner Bank have filed a lawsuit against their employer that claims they were not properly compensated. The plaintiffs were allegedly employed as residential lenders (also known as “loan officers”) and were paid a base salary plus commissions earned through loans purchased by customers. According to the lawsuit, the plaintiffs’ overtime compensation was calculated using only their base salaries and did not include their commission payments. Under the Fair Labor Standards Act, non-exempt employees like the plaintiffs are entitled to time-and-a-half overtime wages for hours they work above 40 in a week, the complaint says. Because their overtime wages allegedly did not account for their full rate of pay, the plaintiffs argue that they were not properly compensated. They further claim that they were often required to work “off the clock” without being compensated at all.