The U.S. Supreme Court has agreed to consolidate and review two related cases regarding the Department of Labor’s 2010 regulatory interpretation under the Fair Labor Standards Act (FLSA) that mortgage loan officers are not exempt from minimum wage and overtime requirements. A SCOTUS opinion would put to rest a dispute among the circuit courts as to whether the Department of Labor must engage in notice-and-comment rulemaking in order to significantly alter a previous interpretation of the FLSA. The high court’s decision will certainly impact...