And management is going to fire you without pay over it, realize they did so in error, not show any remorse and tell you to shoot HR a cover letter and résumé if you’d like the opportunity to try and get your old job back.

Paul Boudwin knows what we’re talking about.

Boudwin’s ordeal began in July 2011, when the bank was reviewing its employment records to ensure it complied with new federal rules that, among other things, require a criminal background check for anyone who works at a mortgage originator. When he was hired by the bank in 2006, Boudwin disclosed what he says was a legal misunderstanding from his college days. He and his best friend ate breakfast at a Denny’s in Scottsdale, Ariz., near the Arizona State University campus. The place was a student hangout, and after they finished their meal, they mingled with other friends for a while. Each assumed the other had paid the check. When they left the restaurant an hour or so later, a manager confronted them outside, accused them of walking the check and called the police. They were arrested, paid a $50 fine and the $20 tab, tip included. The charge was later dismissed. “There was no intent for not paying for an omelet,” Boudwin said.

When Bank of America’s review last year turned up the information about the omelet incident that Boudwin disclosed when he was hired, it set off a bureaucratic process impervious to reason. In a letter included in the lawsuit, the bank said the charge amounted to a “disqualifying conviction” under the law, which prohibits anyone convicted of an offense involving dishonesty or breach of trust from working at a financial institution. Boudwin submitted court records showing the charges were dismissed. Bank officials assured him the matter would be sorted out, and the bank even filed for a waiver from the Federal Deposit Insurance Corp. on his behalf, court records show. However, the bank said because of the new rules, Boudwin couldn’t continue to work during the six to nine months it might take to get the waiver. He was put on an unpaid leave of absence, and his Wharton trip was canceled. He was told he would receive his back pay and bonus when he was reinstated, he said. In late February of this year, his boss called. Boudwin thought his ordeal was over and the FDIC had granted the waiver. Instead, his boss told him he was being fired. The bank was tired of waiting, he said his boss told him. Two weeks later, the FDIC granted the waiver, but Bank of America refused to reinstate Boudwin to his old position. He was welcome to reapply, but his seniority, bonus and back pay would be lost.

Unfortunately for Bank of America, Boudwin decided that appealing as competing to come in as a first year employee sounded, he’d prefer to win the money owed to him in court, and filed suit against BofA last week. Will his case set a precedent for financial services employees wrongfully fired over misunderstandings at Denny’s, IHOP, OHOP, Waffle House and local diners everywhere? Stay tuned.

Bank Lays Egg In Omelete Case [Chronicle]
Paul Boudwin Fired By Bank Of America Over Denny’s Omelet Dispute [HP]

19 comments (hidden to protect delicate sensibilities)
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Comments (19)

  1. Posted by Paul Boudwin | October 31, 2012 at 5:30 PM

    I'm strictly a Nanerpuss guy from now on.[youtube 4kK6F7t-x6E youtube]

  2. Posted by Slurricane | October 31, 2012 at 5:33 PM

    Least offensive Denny's story I've ever heard.

    I'd like to meet the HR representative who went around like a dog with its tail between its legs telling people he knew about "the next shoe to drop."

  3. Posted by USPS Employee | October 31, 2012 at 5:44 PM

    Fuck the cover letter and resume. Just shoot HR.

  4. Posted by SmotheredCovered | October 31, 2012 at 5:50 PM

    There's a waffle on my house.

  5. Posted by guest | October 31, 2012 at 6:03 PM

    um. what?

  6. Posted by Country Club | October 31, 2012 at 6:37 PM

    “Let the wives and children of these bankers be confronted with, and shamed by, the grotesque conduct of their husbands, wives, mothers and fathers”

  7. Posted by Bejujular | October 31, 2012 at 6:40 PM

    Well we couldn't let UBS monopolize the "treat your employees like shit" news cycle.

    -B. Moynihan

  8. Posted by Karl Hungus | October 31, 2012 at 7:59 PM

    Investment Banking = Retail Loan Officer/Investment Advisor

  9. Posted by Guest | October 31, 2012 at 9:18 PM

    Dine and dash. Blame it on the other guy. Classic defense strategy.

  10. Posted by Wall St. Dude | October 31, 2012 at 11:01 PM

    Does it surprise you that the idiots at BAML can't handle the most manageable technicality?

  11. Posted by Sell It | November 1, 2012 at 9:00 AM

    "I'm not guilty. You're the one that's guilty. The omelet makers, the bankers, the pancake lords, all you who lobby against making petty larceny legal. Just like you did with fleecing customers during the financial crisis. You're the one who's guilty. I mean, c'mon, let's kick the ballistics here: Ain't no pancakes made in Charlotte. Not one of us in here owns a bargain-basement breakfast joint. This thing is bigger than Paul Boudwin. This is big business. This is the American way."

  12. Posted by DingALing | November 1, 2012 at 9:21 AM

    Bank of America: Gets sued for cheating millions on their mortgage. Fires mortgage banker for accidently not paying for an omelette.

  13. Posted by Kanye | November 1, 2012 at 10:08 AM

    Omelet you finish…

  14. Posted by Longun | November 1, 2012 at 10:34 AM

    In Soviet Russia..there are no omlettes…

  15. Posted by Kanye East | November 1, 2012 at 11:13 AM

    Lets get it straight . ..It was Moons over My Hammy – Takes precedent over any Omelette ….

  16. Posted by Guest | November 1, 2012 at 11:18 AM

    I think that was assumed by the Arizona State reference

  17. Posted by Eldrick W. | November 1, 2012 at 11:54 AM

    Denny's still has "Grand Slam's", right? Kinky.

  18. Posted by Not enough ammo | November 1, 2012 at 12:41 PM

    I wish I had more than just one thumbs up to bestow for this one. Sweet!

    (Neither humanistic nor resourceful)

  19. Posted by J. Gundlach | November 1, 2012 at 1:57 PM

    Yes, but do they know *who* I did at Denny's 14 years ago? Didn't think so.