The 15 ex-employees who possess provided sworn statements worked for Quicken mostly during 2004-2007, in the height associated with home loan growth.
A Minneapolis law practice has filed four lawsuits that are overtime-related a huge selection of ex-employees. The first one set to attend test involves workers whom worked for Quicken into the period that is earliest included in the situations. The plaintiffs’ attorneys won’t begin putting proof on the record within the cases involving more modern workers before the older situation gets its time in court.
A spokeswoman stated Quicken’s loan consultants enjoy “a fully guaranteed salary and a large settlement plan. ” She stated the business relied on guidance through the U.S. Department of work in determining they don’t be eligible for overtime pay. The company has said, they are salaried and commissioned workers who are exempt from overtime laws because the employees provide expert financial advice to borrowers in much the same way that stock brokers advise investors. Continue reading Pay Dispute Shines Light on Lending Tactics