Friday, September 7, 2007, 3:27 PM

Mortgage Company Retail Exemption Appeal Turned Down

From Employment Law360: A federal appeals court has rejected Ace Mortgage Funding Inc.'s argument that it doesn't have to comply with the overtime pay requirements of the Fair Labor Standards Act because it is a retail or service establishment, marking the latest development in a series of attempts by financial services companies to convince judges that the FLSA doesn't apply to mortgage brokers.

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