E-Loan has agreed to pay $13.6 million to settle a wage and hour class action brought on behalf of approximately 500 current and former mortgage loan consultants employed in the company's Pleasanton and Dublin, California offices. The named plaintiffs claimed that E-Loan misclassified its loan consultants as exempt, and thereby unlawfully failed to pay overtime and provide meal periods, and failed to provide accurate itemized wage statements. E-Loan contended that the loan consultants fell within the Administrative exemption from overtime.