News & Analysis as of

White-Collar Exemptions Financial Services Industry

Parker Poe Adams & Bernstein LLP

Ninth Circuit Says Mortgage Underwriters are Production Workers Not Eligible for Overtime Exemption

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

Goodwin

Financial Services Weekly News - May 2016 #4

Goodwin on

Breaking News - Solicitor General Files Brief in Madden v. Midland Funding - On May 24, the U.S Solicitor General (SG) filed a brief with the U.S. Supreme Court (the Court) in the matter of Madden v. Midland...more

Parker Poe Adams & Bernstein LLP

Sixth Circuit Says Residential Loan Underwriters Are Exempt From Overtime Requirements

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

Proskauer - Law and the Workplace

Sixth Circuit: Loan Underwriters Not Entitled to Overtime Pay

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

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