The Globe and Mail reports in its Friday edition Bank of Nova Scotia has reached a tentative settlement in a long-standing class-action lawsuit concerning overtime pay.
The Globe's Tim Kiladze writes the case dates to 2007, when a branch employee filed a suit arguing the bank's overtime approval process prevented staffers from receiving overtime pay. The case was certified for class-action status in 2009, and the proposed settlement will now go before a judge in August.
Scotiabank has a policy that requires employees to be preapproved for overtime pay. They argued that was not always possible. For example, if a customer walked into a branch five minutes before closing and requested a mortgage approval, the employee simply could not turn him or her away. Scotiabank fought the case every step of the way -- even seeking to have it heard by the Supreme Court of Canada. That request was ultimately denied.
It is too early to predict how much Scotiabank will have to pay.
If the settlement is approved by the court, all current and former full-time personal banking and small-business banking employees working in branches between Jan. 1, 2000, and Dec. 1, 2013, will be able to submit claims by Oct. 15.
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