[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
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
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
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
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
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
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
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
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
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
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
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
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
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
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