D.C. Federal Court upholds DOL 2010 flip-flop on exempt status of mortgage loan officers under FLSA *

USA - June 12 2012
In the latest in a series of flip-flops, the Department of Labor (DOL) unilaterally changed course in March 2010, withdrawing its September 2006 Opinion Letter to the Mortgage Bankers Association (MBA) affirming that certain mortgage loan officers were "administrative" employees and therefore exempt from the overtime and recordkeeping requirements of the Fair Labor Standards Act (FLSA).

Co-authors: Nancy M. O'Connor.

Bankers beware: ATM fee class action suits on the rise *

USA - October 5 2010
After dozens of cases have been filed nationwide, Texas financial institutions are now being sued for allegedly deficient notices about fees on ATMs.

Co-authors: Kevin T. Schutte, William G. Hagans, Bryan S. Dumesnil, William T. Luedke IV, G. Waverly Vest.

White House announces plans for Small Business Lending Fund; regulators issue joint statement encouraging small business lending *

USA - February 9 2010
On February 2, 2010, President Barack Obama outlined a proposal for a Small Business Lending Fund ("SBLF"), which is expected to support lending by banks with assets under $10 billion.

Co-authors: Justin M. Long, William T. Luedke IV, Robert L. Clarke.

Highlights of Treasury's guidance on executive compensation standards for TARP recipients *

USA - June 16 2009
On June 10, 2009, the U.S. Department of the Treasury ("Treasury"), issued long awaited guidance in the form of an interim rule ("Interim Rule") implementing Section 111 of the Emergency Economic Stabilization Act of 2008 ("EESA"), as amended by the American Recovery and Reinvestment Act of 2009 ("ARRA").

Co-authors: Carrie E. Carbone, Brandon E. Wing, Charlotte M. Rasche, William T. Luedke IV, G. Waverly Vest.