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Posts tagged "Mortgage Bankers Association"

Supreme Court Upholds DOL Authority to Determine Employee Status

On March 9, 2015, the United States Supreme Court issued a significant decision impacting employers who are concerned with whether or not their workers can be classified as exempt employees under the Fair Labor Standards Act. The decision in Perez v. Mortgage Bankers Assn. confirmed that the DOL had the ability to interpret its rules to determine that mortgage lenders were non-exempt employees. As such, mortgage lenders need to be paid overtime for every hour worked over forty per week.