Sales Commissions Bonuses

News & Analysis as of

Financial Services Industry: Be Aware of Proposed White Collar Overtime Regulations

The financial services area received a defeat earlier this year when the United States Supreme Court in March upheld the Department of Labor's (DOL) Administrative Interpretation concluding that mortgage loan officers do not...more

Determining When a Commission is "Earned" When Calculating the Regular Rate

In our last post, we discussed the calculation of the “regular rate” and some of the complexities of determining what constitutes “remuneration” under the Fair Labor Standards Act (FLSA). Commission is one of the additional...more

Finders Are Not Always Keepers!

Your good client, Avery Phillips, Chairman of the Board, calls you because he is considering engaging a friend, Tepper, to identify potential investors for his company. Phillips explains that Tepper has extensive business...more

CFPB files lawsuit challenging loan officer bonuses

It appears the CFPB wants to send a warning through the lawsuit it filed yesterday in a Utah federal court against a mortgage company and two of its officers for allegedly paying illegal bonuses to loan officers that were...more

ERISA: 8th Circuit–Claimant’s Contradictory Statements to SSA Can Be Used To Deny ERISA Disability Claim Involving...

What happens when an ERISA claimant submits contradictory statements to the Social Security Administration and the ERISA plan administrator? Can these contradictory statements be used to deny the ERISA claim? YES....more

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