Assistant branch managers at TCF Financial Corp. are suing the bank, claiming that the company misclassified their work to avoid paying them overtime.
The Star Tribune has a repot on the lawsuit, filed in Illinois by a pair of plaintiffs who claim that while they're technically management, they do the same work as hourly employees. They're suing under the Fair Labor Standards Act, which dictates how employees can be divided into jobs that are wage-based (and thus subject to overtime) or salary based, and thus exempt.
Wayzata-based TCF (NYSE: TCB) denied the allegations.
These sorts of employment-classification suits aren't uncommon. Target Corp. employees in four states sued the company over overtime in 2010, and Caribou Coffee Co. settled a similar class-action case a decade ago for $2.7 million.