January 12th, 2011 
davidguide A lawsuit was filed by the Mortgage Bankers Association against the Department of Labor, a news release said. The trade group claims that last year’s administrator’s opinion reversed a 2006 opinion letter from the department to MBA which concluded that typical loan officers were exempt from Fair Labor Standards Act requirements for overtime payments. MBA seeks to set aside the recent ruling and require that the Labor Department follow the rulemaking procedure if it wants to reverse the 2006 ruling.
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