Credit unions and other businesses will not have to post notices informing employees of their rights to start and join unions. The proposed NLRB rule was struck down in the U.S. Circuit Court of Appeals.
The official commentary in a new final rule from the CFPB includes hourly pay among the “permissible methods of compensation” for MLOs, meaning credit unions will have to examine their loan officers’ primary duties to determine whether they qualify for minimum wage and overtime.
A U.S. District judge in Washington, D.C., recently upheld the DOL administrative interpretation that says mortgage loan officers are not exempt from overtime under the Fair Labor Standards Act, a ruling that will impact many credit unions.
As of Jan. 31, 2012, most private sector employers will be required to post a notice advising employees of their rights under the National Labor Relations Act.
Your update on the regulatory landscape.
Credit unions, along with most other private-sector employers, must now publicly post notices of employee rights beginning on Nov. 14, 2011, under a new rule announced by the NLRB.
Your update on the regulatory landscape.
Two recent regulatory actions highlight the significance of reviewing how you compensate your Mortgage Loan Officers.
Two recent regulatory actions highlight the significance of reviewing how you compensate your Mortgage Loan Officers.