News & Analysis as of

Wage and Hour › Mortgages

BakerHostetler

Central District of California Denies Certification in Mortgage Loan Officer Case

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FLSA Conditional Certification Denied Too - The position of mortgage loan officer has been a fertile source of wage and hour claims, but a recent case from the Central District of California reflects that certification of a...more

Cozen O'Connor

The State AG Weekly Update

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AG Elections- Minnesota Attorney General Lori Swanson Announces Bid for Reelection- Minnesota AG Lori Swanson declared her intention to run for reelection to a fourth term in 2018, putting to rest previously reported...more

Davis Wright Tremaine LLP

Ninth Circuit: Mortgage Underwriters Are Not Exempt

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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

Nutter McClennen & Fish LLP

Nutter Bank Report, July 2017

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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

Ballard Spahr LLP

Federal Appeals Court Rules Mortgage Underwriters Owed Overtime for Work in Excess of 40 Hours in Workweek

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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

Pullman & Comley, LLC

Appellate Court Notes

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Supreme Court Advance Release Opinions: SC19496 - Commission on Human Rights & Opportunities v. Echo Hose Ambulance - The issue of this case was whether or not an unpaid volunteer, in this case for an ambulance...more

Carlton Fields

CFPB Proposes Banning Use of Pre-Dispute Arbitration Agreements in Consumer Class Actions

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The Consumer Financial Protection Bureau (CFPB or Bureau) announced today that it is considering rules prohibiting application of pre-dispute arbitration agreements to class litigation involving certain consumer financial...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

Parker Poe Adams & Bernstein LLP

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

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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

Ballard Spahr LLP

Loan Officers Petition D.C. Circuit To Review Decision Regarding Overtime Exemption

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Three loan officers at Quicken Loans Inc. have petitioned the U.S. Court of Appeals for the District of Columbia Circuit for en banc reconsideration of a recent ruling that invalidated U.S. Department of Labor (DOL) guidance...more

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