News & Analysis as of

Supreme Court of the United States › Mortgage Loan Originators

The United States Supreme Court is the highest court of the United States and is charged with interpreting federal law, including the United States Constitution. The Court's docket is largely discretionary... more +
The United States Supreme Court is the highest court of the United States and is charged with interpreting federal law, including the United States Constitution. The Court's docket is largely discretionary with only a limited number of cases granted review each term.  The Court is comprised of one chief justice and eight associate justices, who are nominated by the President and confirmed by the Senate to hold lifetime positions. less -
Goodwin

2021 Year in Review: Consumer Finance

Goodwin on

[co-authors: Amelie Hopkins, and Collin Grier] The year 2021 started with the hope of COVID-19 vaccines and a return to (relative) normalcy, only to conclude with new variants that presented new challenges and extended...more

Baker Donelson

The New Paradigm in Vendor Management Under the CFPB

Baker Donelson on

This past July marked the fifth anniversary of the creation of the Consumer Financial Protection Bureau (CFPB), a period marked by sweeping changes to the regulatory and administrative environment in which financial...more

Franczek P.C.

Supreme Court Rejects Notice and Comment Rulemaking Requirement for Agency Interpretations

Franczek P.C. on

In a case we labeled one of the “cases to watch” this term, a relatively unified Supreme Court decided in Perez v. Mortgage Bankers Association that a federal agency does not need to engage in notice-and-comment rulemaking...more

Littler

The Supreme Court Sides with the Department of Labor in "Rulemaking" Challenge

Littler on

The U.S. Supreme Court handed the U.S. Department of Labor (DOL) a victory in a battle over whether the agency's reversal of its stance on the exempt status of mortgage loan officers was subject to public notice and comment....more

Faegre Drinker Biddle & Reath LLP

Supreme Court Holds Federal Agencies May Reverse Their Positions Through Informal Guidance

Faegre Drinker Biddle & Reath LLP on

On March 9, 2015, the U.S. Supreme Court issued its decision in Perez v. Mortgage Bankers Ass’n, No. 13-1041 (Mar. 9, 2015), holding federal administrative agencies may amend or repeal interpretive rules without following...more

Cozen O'Connor

Supreme Court Blesses Comment-Free Rulemaking by Administrative Agencies

Cozen O'Connor on

On March 9, 2015, the Supreme Court held that agencies such as the Department of Labor (DOL) are not required to provide a public notice-and-comment period before implementing new interpretive rules, which includes agency...more

Miller Canfield

SCOTUS: Federal Agencies Can Change Interpretive Rules Without Formal Process

Miller Canfield on

Federal agencies are not required to follow formal notice-and-comment rulemaking when making significant changes to interpretive rules, according to a unanimous U.S. Supreme Court. In Perez v. Mortgage Bankers Association,...more

Polsinelli

Unanimous Supreme Court Yesterday in Mortgage Bankers: Notice-and-Comment Not Required for Interpretive Rulemaking

Polsinelli on

On March 9th, 2015 the U.S. Supreme Court unanimously reversed the D.C. Circuit's opinion on federal agency rulemaking in Perez, Secretary of Labor v. Mortgage Bankers Association, holding that federal agencies need not issue...more

Mintz - Employment, Labor & Benefits...

High Court Sides with DOL, Holding that Agencies May Flip-Flop on Regulatory Interpretations Without Engaging in...

Mintz - Employment, Labor & Benefits... on

In June, we wrote that the U.S. Supreme Court agreed to address whether a federal agency (in this case, the Department of Labor) must engage in formal notice-and-comment rulemaking in order to significantly alter its...more

Foley Hoag LLP - Environmental Law

News Flash: Courts Still Defer to an Agency’s Interpretation of Its Own Rules

Foley Hoag LLP - Environmental Law on

The Supreme Court today ruled that, when an agency revises its interpretive rules, it need not go through notice-and-comment rulemaking. Although the decision, in Perez v. Mortgage Bankers Association, required the court to...more

Fisher Phillips

Supreme Court Paralyzes Paralyzed Veterans Doctrine, Affords Greater Deference To Federal Agencies

Fisher Phillips on

Monday, in a 9-0 decision, the U.S. Supreme Court abolished a precedent on which the regulated community has relied to keep federal agencies in check for nearly 20 years. This precedent, commonly referred to as the Paralyzed...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

Supreme Court to Decide Paralyzed Veterans Doctrine

Ogletree, Deakins, Nash, Smoak & Stewart,... on

When the White House goes from a Democratic president to a Republican president, or vice versa, there are often changes in various federal agencies’ directives to reflect the priorities of the current administration. These...more

Parker Poe Adams & Bernstein LLP

Supreme Court to Review Cases Involving Overtime Exemption for Mortgage Loan Officers

Parker Poe Adams & Bernstein LLP on

On Monday, the U.S. Supreme Court accepted review of two lower court decisions of significant importance to the banking and financial services industries. The cases involve the question of whether mortgage loan officers are...more

Manatt, Phelps & Phillips, LLP

Employment Law -- Jul 18, 2013

Manatt, Phelps & Phillips, LLP on

D.C. Circuit Flips DOL’s Flip-Flop On Mortgage Loan Officers - Mortgage loan officers may qualify for the administrative exemption from the overtime wage provisions of the Fair Labor Standards Act, the D.C. Circuit...more

Ballard Spahr LLP

D.C. Circuit Sanctions Labor Agency 'Flip-Flop' on Overtime Requirements for Mortgage Loan Officers

Ballard Spahr LLP on

The U.S. Court of Appeals for the District of Columbia Circuit recently vacated a 2010 interpretation of federal wage and hour law in which the Department of Labor (DOL) had concluded that mortgage loan officers do not...more

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