News & Analysis as of

Wage and Hour Mortgage Loan Officer

Littler

Third Circuit Reverses Class Certification of Unpaid Overtime Claims in Off-The-Clock Lawsuit

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In Reinig v. RBS Citizens, N.A., a three-judge panel of the U.S. Court of Appeals for the Third Circuit overturned a district court’s decision certifying a class of mortgage loan officers (“MLOs”) who claimed they were...more

Seyfarth Shaw LLP

Class Claims Deserve More Rigorous Treatment, Third Circuit Holds

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Seyfarth Synopsis: In a recent decision, the Third Circuit Court of Appeals rebuked a Pennsylvania district court’s skeletal analysis of plaintiffs’ class action claims. Particularly, the court took issue with the district...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

Baker Donelson

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

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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

Fisher Phillips

One-Time Anomaly Or Potential Turning Of The Tides? A Review Of The Supreme Court's 2014-2015 Term

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In a marked departure from the overwhelming success employers experienced before the Supreme Court in recent years, the less successful recently wrapped 2014-2015 term could be an indication that the judicial tides may be...more

Ballard Spahr LLP

How might the Supreme Court’s decision in Perez v. MBA affect the CFPB?

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The U.S. Supreme Court’s recent decision in Perez v. Mortgage Bankers Ass’n invalidated a significant line of D.C. Circuit case law known, after the leading case, as the Paralyzed Veterans doctrine. A case involving a series...more

Ballard Spahr LLP

U.S. Supreme Court Weighs in on Labor Department’s Interpretation of Overtime Rules for Mortgage Loan Officers

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We know that many of you are aware of the U.S. Supreme Court's decision in Perez v. Mortgage Bankers Association. The Court held that the U.S. Department of Labor was not required to follow notice and comment procedures in...more

Buchalter

U.S. Supreme Court Upholds Validity of Department of Labor’s Interpretation on Overtime Pay for Mortgage Loan Officers

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For the past several years, an action by the Mortgage Bankers Association has been brewing in the courts challenging the U.S. Department of Labor (“DOL”) for issuing contradictory opinion letters on whether mortgage loan...more

Goodwin

Supreme Court Ruling Validates DOL’s 2010 Interpretation Regarding FLSA Status of Mortgage-Loan Officers

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The Supreme Court recently rejected a challenge to the validity of a 2010 interpretation by the U.S. Department of Labor (the “DOL”), which had concluded that the administrative exemption of the Fair Labor Standards Act...more

King & Spalding

Supreme Court Holds Notice-and-Comment Rulemaking Not Required to Change An Interpretive Rule

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When federal agencies change their interpretive rules, they are exempt from the formal notice-and-comment rulemaking requirements of the Administrative Procedures Act (APA), says the Supreme Court in its recent ruling in...more

Bergeson & Campbell, P.C.

Supreme Court Confirms That Agency Interpretative Rules Do Not Require Notice and Comment

In a March 9, 2015, decision in Perez v. Mortgage Bankers Ass'n., the U.S. Supreme Court unanimously held that an interpretative rule issued by an administrative agency does not require notice and opportunity for comment,...more

Ballard Spahr LLP

U.S. Supreme Court Notice, Comment Not Required for Federal Agencies Interpreting Regulations

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The U.S. Supreme Court decided in Perez v. Mortgage Bankers Association that federal agencies are not required to use the Administrative Procedure Act's (APA) notice and comment procedures when issuing or making changes to...more

Bradley Arant Boult Cummings LLP

Mortgage Loan Officers are Not Exempt Employees per the DOL and the Supreme Court Says that is Okay

The legal ping-pong match between the Department of Labor (DOL) and the Mortgage Bankers Association (MBA) over whether mortgage loan officers are eligible for overtime appears to be at an end. The Supreme Court recently...more

Epstein Becker & Green

Supreme Court Removes a Major Hurdle for Administrative Agency Rulemaking

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On March 9, 2015, the Supreme Court ruled unanimously that when a federal administrative agency wants to amend or repeal an “interpretive rule,” it does not have to follow the notice-and-comment procedures set forth in the...more

Beveridge & Diamond PC

Supreme Court Allows Agencies to Re-Interpret Their Regulations Without Rulemaking

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On March 9, 2015, the Supreme Court wiped away a longstanding judicial doctrine that had placed greater procedural requirements on a federal agency when it changes its prior interpretation of a federal regulation....more

FordHarrison

Supreme Court Upholds DOL's Rulemaking Procedure in Reclassifying Mortgage Loan Officers

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On March 9, 2015 the U.S. Supreme Court held that a federal agency is not required to engage in notice-and-comment rulemaking when it issues an interpretation of a regulation that is significantly different from its prior...more

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

Supreme Court Eliminates Notice-and-Comments for Some Agency Interpretations

On March 9, 2015, the Supreme Court of the United States ruled that the Paralyzed Veterans doctrine, which requires an agency to use the notice-and-comment procedures of the Administrative Procedure Act (APA) when issuing a...more

Allen Matkins

The California Implications Of Perez v. Mortgage Bankers Association

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On Monday, the U.S. Supreme Court heard oral arguments in Perez v. Mortgage Bankers Ass’n et al. The case, if decided against the Department of Labor (Thomas E. Perez is the Secretary of Labor), will have a significant...more

Holland & Knight LLP

U.S. Supreme Court May Require Notice-and-Comment On More Agency Actions

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On December 1, 2014, the Supreme Court heard oral argument in Perez v. Mortgage Bankers Association and Nickols v. Mortgage Bankers Association to address whether a federal agency must engage in notice-and-comment rulemaking...more

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