Legal Blog

Compensation and Compliance Matters: Overtime and Outside Loan Officers

clock-work-overtime-Fotolia-250The recent U.S. Supreme Court decision upholding the Department of Labor interpretation concerning the exempt status of loan officers does not mean that outside loan officers are now subject to minimum wage or overtime requirements under federal law. The DOL opinion was an interpretive letter specific to a defined fact pattern describing an inside loan officer. The opinion did not apply to all loan officers regardless of duties and did not address the applicability of the outside sales exemption to loan officers. Click here to read the entire article on National Mortgage News. akaren@offitkurman.com  | 240.507.1740 Ari Karen is an experienced litigator and speaker who has focused his practice in representing financial institutions in both government investigations and litigation before state and federal trial and appellate courts nationwide. Mr. Karen’s practice is diverse, representing clients on matters concerning banking regulations, Dodd Frank financial reform laws, contractual disputes, employment and labor statutes, wage-hour class actions, employment discrimination and fair lending matters, whistleblower complaints and non-competition claims, among others.

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