Financial & Mortgage Loan Advisors & Collectors

The Fair Labor Standards Act (“FLSA”) requires certain employers to pay their employees overtime compensation for all hours worked in excess of forty in a workweek at a rate not less than one and one-half times their regular rate of pay. Employees are generally assumed to be entitled to the rights and protections of the FLSA unless the employer is able to establish that such employees are not covered by the act because the employee fits within one of the several statutory exemptions.

Employees working in the financial industry – including Financial Advisors, Mortgage Loan Advisors, and Collectors – are often improperly compensated because they are paid commissions and/or a salary, often as a result of employee misclassification. The FLSA generally requires employees in the financial industry whose primary duties involve facilitating sales or collections over the phone be paid overtime wages for all hours worked in excess of forty in a workweek.

Do you believe an employer owes you unpaid overtime?

The employment attorneys at OSMAN & SMAY LLP can help. If you have worked in the financial industry and have questions about your how overtime laws may apply to your situation, please CONTACT US today to schedule a free consultation.

OSMAN & SMAY LLP represents employees in the states where our attorneys are admitted to practice: Kansas, Missouri, Michigan, New York and the District of Columbia.