U.S. Supreme Court to hear mortgage loan officers’ pay case

(Reuters) – The U.S. Supreme Court on Monday agreed to weigh a dispute over whether mortgage loan officers are exempt from minimum wage and overtime pay regulations.

The two related cases concern a decision in 2010 by the U.S. Labor Department, which reversed a 2004 finding made during the administration of President George W. Bush that had concluded mortgage loan officers were exempt from the regulations.

The Mortgage Bankers Association challenged the more recent finding in court, leading to the current litigation over whether the government followed the correct process in changing course.

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