A loan officer for a mortgage company, Cascades Mortgage, has filed a class action lawsuit seeking recovery of unpaid overtime compensation. The loan officer, Robert Clausen, claims that he and other loan officers were misclassified as exempt from overtime under the federal Fair Labor Standards Act.
Source: Mortgage Orb
Read more: Are Mortgage Loan Officers Exempt from Overtime?
This case got a boost last week when the Supreme Court ruled in Perez v. Mortgage Bankers Association that mortgage loan officers were not exempt from overtime pay requirements. We've discussed this decision in a later post:
Misclassification of employees as exempt is a common violation of overtime laws; call Lexington, Kentucky overtime lawyer Robert Abell at 859-254-7076.