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Home » Store » News » Subprime Lenders Stung By FLSA Overtime Lawsuits

Subprime Lenders Stung By FLSA Overtime Lawsuits

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Subprime lenders have found themselves on the wrong end of several recent lawsuits alleging violations of the Fair Labor Standards Act by failing to pay overtime to loan officers. While the issue of overtime ranked high on the industry’s agenda last year, as the Department of Labor began a controversial rulemaking effort to reclassify certain white-collar employees – including mortgage account executives – as “exempt” from overtime pay
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