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Smoother Sailing or Choppy Waters: What Lies Ahead for the 2022 D&O Market?
D&O in Brazil and Latin America
Regan Miller, RPLU on Cyber Risk
In an appeal presenting recurring issues facing district courts in managing whether and how prospective parties are brought into wage and hour lawsuits under the collective action procedures of the Fair Labor Standards Act...more
Are underwriters exempt from the Fair Labor Standards Act’s (FLSA) overtime requirements? Financial services companies may assume so. But a recent Ninth Circuit decision—along with the Supreme Court’s refusal on November 27...more
Seyfarth Synopsis: As previously discussed in this space, the Ninth Circuit recently chose to side with the Second Circuit, and not the Sixth Circuit, and ruled that mortgage underwriters fail to meet the FLSA’s...more
The U.S. Court of Appeals for the Ninth Circuit recently held that mortgage underwriters who worked for Provident Savings Bank were not “administrative employees,” and thus did not qualify for exemption from the overtime...more
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
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
The Ninth Circuit Court of Appeals issued a decision last week holding that mortgage underwriters are not exempt from the overtime requirements of the Fair Labor Standards Act (FLSA). The July 6 decision, which furthers a...more
In response to three questions asked of it by the United States Court of Appeals for the Ninth Circuit, the California Supreme Court opined as follows...more
Mortgage underwriters do not qualify for the Fair Labor Standards Act’s administrative exemption because they are more appropriately characterized as “production” employees, according to the U.S. Court of Appeals for the...more
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
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
The Sixth Circuit Court of Appeals ruled that residential-loan underwriters are exempt administrative employees under the Fair Labor Standards Act (FLSA) and are therefore not entitled to overtime. In Lutz v. Huntington...more