Wells Fargo avoided paying overtime to ‘understaffed’ workers, class-action lawsuit claims

November 30, 2023

A Wells Fargo & Co. employee taking part in a rare unionization effort at the bank filed a class-action lawsuit in federal court Thursday in an effort to earn overtime pay in her work as a senior premier banker.

Sabrina Perez’s complaint with the law firm Outten & Golden, filed in federal court in the Northern District of California, challenges an alleged practice at Wells Fargo WFC, -1.25% of exempting senior premier bankers from overtime pay, which is 1.5 times regular pay when a worker puts in more than 40 hours in a week.

The lawsuit accuses San Francisco-based Wells Fargo of violating the U.S. Fair Labor Standards Act, as well as New Mexico state wage laws.