United States District Court, Central District of California
Settled for $48.5 Million
Outten & Golden LLP represents a group of current and former Senior Premier Bankers at Wells Fargo in a lawsuit alleging it misclassified them as exempt from overtime requirements.
Five Wells Fargo employees filed a lawsuit seeking to represent a class and collective of Senior Premier Bankers. Their duties included performing routine customer service tasks, such as opening and closing accounts, and selling banking products, which doesn’t qualify for an exemption from overtime requirements, the lawsuit claims.
Wells Fargo also allegedly understaffed its branches causing Senior Premier Bankers to work more than 40 hours per week. Despite the long days, the employees did not receive overtime pay for the extra hours, they claimed.
The Plaintiffs’ complaint, filed federal court in Los Angeles, alleged violations of the federal Fair Labor Standards Act and state laws in California and Colorado. In addition to the overtime claims, they alleged related violations including failing to provide meal and rest breaks.
A Senior Premier Banker also filed a claim for penalties under California’s Private Attorneys General Act (“PAGA”). PAGA lets employees sue on behalf of themselves, other employees, and the State of California to recover penalties for violations of the California Labor Code.
Settlement
On September 4, 2025, Plaintiffs filed a motion with the court requesting that it preliminarily approve the settlement of all SPBs’ claims against Wells Fargo. If the court grants preliminary approval, Plaintiffs will seek final approval after providing notice of the settlement to eligible participants.
Wells Fargo agreed to pay $48,500,000, which covers payments to approximately 4,230 class members, attorneys’ fees, costs, and settlement administration expenses. The estimated average amount is $7,137 per person.
The settlement covers Premier Bankers, Premier Bankers 2, and/or Senior Branch Premier Bankers who worked during the following time periods:
- In California between March 27, 2020 through the Release Date*
- In Colorado between February 2, 2021 through the Release Date*
- In any other state between February 22, 2021 through the Release Date*
If the settlement is approved and you are part of the settlement, you will receive notice in the mail and by email.
Outten & Golden LLP is committed to upholding the rights of workers and holding employers accountable to adhere to labor laws. If you have faced similar issues in your workplace or have concerns about your employment rights, please don’t hesitate to reach out to us. Your rights are important, and we are here to support you.
*The Release Date is the day the court preliminarily approves the settlement. This date has not passed yet.
Contact Us
Email: WellsFargoSPB@outtengolden.com
Phone: (202) 847-4401
