Full DC Circ. Asked To Weigh DOL Shift On Loan Officer OT

Law360, New York (August 19, 2013, 3:39 PM EDT) -- Former loan officers on Friday asked the full D.C. Circuit to review a panel decision struck down the U.S. Department of Labor's 2010 reclassification of mortgage loan officers as eligible for overtime pay, saying the precedent it was based on should be overturned. 

A D.C. Circuit panel in July sided with the Mortgage Bankers Association in its challenge to a 2010 DOL administrative interpretation that withdrew a Bush-era opinion letter suggesting most loan officers were covered by the administrative exemption to the Fair Labor Standards Act, finding that...
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