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Fair Labor Standards Act (FLSA) Financial Services Industry

Alston & Bird

Class Action & MDL Roundup 2024 Q1 – Reaching Across the Pond

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Welcome back to the Class Action & MDL Roundup! This edition covers notable class actions from the first quarter of 2024. In this edition, UK High Court weighs in on information asymmetry, debit is better than credit,...more

Alston & Bird

Class Action & MDL Roundup 2023 Q3 - Catching the Class Action Waive(r)

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Welcome back to the Class Action & MDL Roundup! This edition covers notable class actions from the third quarter of 2023. In this edition, a mistake is just a mistake, “99.99%” isn’t 100% clear, and faxes aren’t always...more

Alston & Bird

Class Action & MDL Roundup 2023 Q2 – Ascertainability Lives!

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Welcome back to the Class Action & MDL Roundup! This edition covers notable class actions from the second quarter of 2023. In this edition, essential oils may need therapy, an ever-growing library goes nowhere, and one...more

Alston & Bird

Class Action & MDL Roundup 2023 Q1 – We Don’t Discount Confidentiality

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Welcome back to the Class Action & MDL Roundup! This edition covers notable class actions from the first quarter of 2023. In this edition, in pork we antitrust, paid time off is not pay, and if it’s free, it won’t cost...more

Foley & Lardner LLP

Not Enough Money to Make the Next Payroll? Know the Law Before You Act

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Recent disruptions in the financial services sector as well as an economic downturn in certain industries, including high tech, may create an immediate and unanticipated liquidity crisis for impacted employers. When faced...more

K&L Gates LLP

Silicon Valley Bank Collapse: Implications for Employers

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UPDATE: SVB depositors are expected to be able to access their deposits on 13 March, 2023. We are closely watching developments on this topic. For more information, refer to this Joint Statement by the Department of the...more

Clark Hill PLC

Window On Washington - Vol. 3, Issue 16

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Outlook for This Week in the Nation's Capital - Congress. After a frantic first three months, the House and Senate have now adjourned for a much needed two week recess, with many questions remaining on how various...more

Ballard Spahr LLP

Sixth Circuit Continues To Expand Class Action Waivers, Following Supreme Court's Lead

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The U.S. Supreme Court's ruling in Epic Systems Corp. v. Lewis was extended by the U.S. Court of Appeals for the Sixth Circuit last week in Gaffers v. Kelly Services, Inc. ...more

Fox Rothschild LLP

Bank Files Cert Petition To US Supreme Court On Administrative Exemption: The Neverendng Story

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There have been so many cases involving employees in the financial services industries and their exempt status or lack thereof. In another variation on this theme, Provident Savings Bank is seeking review by the US Supreme...more

Parker Poe Adams & Bernstein LLP

Ninth Circuit Says Mortgage Underwriters are Production Workers Not Eligible for Overtime Exemption

The financial services industry has been a prime target for class and collective action claims for overtime under the Fair Labor Standards Act (FLSA) and related state laws. For decades, banks and related institutions...more

Seyfarth Shaw LLP

Making A Mountain Of The Administrative/Production Dichotomy Molehill

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Seyfarth Synopsis: Earlier this month, the Ninth Circuit chose to side with the Second Circuit, and not the Sixth Circuit, to opine that mortgage underwriters fail to meet the FLSA’s administrative exemption from overtime...more

Nutter McClennen & Fish LLP

Nutter Bank Report, July 2017

CFPB Arbitration Rule Will Prevent Firms From Blocking Class Action Lawsuits - The CFPB has approved a new rule that will prohibit banks and other covered providers of certain consumer financial products and services from...more

Cadwalader, Wickersham & Taft LLP

The Trump Administration: Change By Executive Action and Inaction

The election of Donald J. Trump as the 45th President of the United States, along with Republican control of the majority of both the House of Representatives and the Senate, will likely result in significant changes in U.S....more

Goodwin

Financial Services Weekly News - May 2016 #4

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Breaking News - Solicitor General Files Brief in Madden v. Midland Funding - On May 24, the U.S Solicitor General (SG) filed a brief with the U.S. Supreme Court (the Court) in the matter of Madden v. Midland...more

Alston & Bird

Class Action Roundup: Winter 2016

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Where the (Class) Action Is - This issue of Roundup wraps up 2015 with another slate of interesting cases spanning industries and subject matter. The running theme of ascertainability is now stretching into antitrust...more

Parker Poe Adams & Bernstein LLP

Sixth Circuit Says Residential Loan Underwriters Are Exempt From Overtime Requirements

Earlier this month, financial companies won a victory in the long-standing battle over whether employees involved in mortgage originations and approvals are exempt from the overtime requirements of the Fair Labor Standards...more

Proskauer - Law and the Workplace

Sixth Circuit: Loan Underwriters Not Entitled to Overtime Pay

On March 2, 2016, the U.S. Court of Appeals for the Sixth Circuit held that residential loan underwriters of Huntington National Bank are administrative employees under the FLSA and therefore not entitled to overtime pay. ...more

Proskauer - Law and the Workplace

Financial Advisors Not Entitled To Overtime, California Court Confirms

In its February 16, 2017 decision in Tsyn v. Wells Fargo Advisors, LLC, Case No. 14-cv-02552-LB, the federal district court for the Northern District of California confirmed that licensed financial advisors qualified for the...more

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