By Peter Snyder on
Mar 09, 2015 12:30 pm
US Supreme Court [official website] ruled [decision, PDF] Monday in Perez v.
Mortgage Bankers Association [SCOTUSblog backgrounder] that under the
Administrative Procedure Act (APA) [text, PDF] federal agencies are exempt from
notice-and-comment requirements when amending or repealing interpretive rules.
In 2006 the Department of Labor's Wage and Hour Division [official website]
issued an opinion letter, at the request of the Mortgage Bankers Association
(MBA) [official website], holding that mortgage-loan officers fell within the
administrative exemption to overtime pay... +read more