DOL Asks DC Circ. To Back Loan Officers' OT Eligibility

Law360, New York (January 22, 2013, 5:58 PM EST) -- The U.S. Department of Labor on Friday urged the D.C. Circuit to affirm a ruling that upheld the agency's reclassification of mortgage loan officers as eligible for overtime pay, asking the court to reject an industry group's claim that the move was procedurally unsound.

The Mortgage Bankers Association is appealing a Washington federal court's determination that the DOL had not run afoul of the Administrative Procedures Act when it flipped its position on mortgage loan officers' overtime status in 2010 through an administrative interpretation that withdrew...
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