U.S. Supreme Court Speaks on Loan Officer Exemption to FLSA: Originators Are Not Exempt

Today, the U.S. Supreme Court rendered a decision that will have a profound impact on lending institutions and the methods in which they compensate their loan origination staff. The Court considered legal issues associated with the U.S. Department of Labor’s administrative rulemaking and guidance related to the issue of whether loan originators are exempt under the Fair Labor Standards Act (FLSA). For more, click here.

Dodd-Frank, Fair Lending, Federal Regulatory, Legal Developments