Based on recent precedent and guidance from the U.S. Department of Labor, Anti-Money Laundering (AML) and Bank Secrecy Act (BSA) Investigators are typically misclassified as “exempt” from overtime. Employers must compensate these individuals at a rate of one-and-a-half times their regular rate of pay for all time worked in excess of 40 hours in any given workweek.
In August of 2017, Stephan Zouras, LLP filed a Collective and Class Action Complaint against U.S. Bank National Association under the Fair Labor Standards Act (“FLSA”) and the North Carolina Wage and Hour Act (“NCWHA”) seeking damages for unpaid earned overtime in violation of federal and state law.
The lawsuit is brought on behalf of both hourly-paid Anti-Money Laundering/Bank Secrecy Act Preliminary Investigators and salaried Special Investigators who worked at the Charlotte, North Carolina office.
Recently, Stephan Zouras, on behalf of the Plaintiff and respective Class, filed a Motion for Conditional Certification and Judicial Notice, which was granted by Judge Frank D. Whitney on June 12, 2018.
The Court authorized notice to all eligible Anti-Money Laundering/Bank Secrecy Act Preliminary Investigators and Special Investigators who worked any time since June 12, 2015.
Eligible employees have until August 24, 2018 to join the case.
If you, or someone you know, worked for U.S. Bank National Association and would like more information on your rights or how to join the case, please feel free to contact us at (312)233-1550.
You can read more about unpaid wages and your rights here.