The Department of Labor (DOL) issued an interpretive ruling on March 24, 2010, which holds that employees who perform the typical job duties of a mortgage loan officer do not qualify as bona fide administrative employees that are exempt under the Fair Labor Standards Act (FLSA).  Thus, most mortgage loan officers are considered non-exempt employees and are entitled to overtime pay. 

Although the recent DOL ruling specifically addressed mortgage loan officers, its analysis is applicable to all types of employees.  Financial institutions must ensure that all employees receive at least the applicable minimum wage for all hours worked.  Consequently, credit unions must analyze each employee’s duties and responsibilities to determine whether they are within the administrative employee exemption or an alternative FLSA exemption.  This webinar will cover this recent ruling and explain the analysis your credit union must use to determine whether an employee is exempt from overtime pay.

HIGHLIGHTS

Ø       Overview of the minimum wage and overtime requirements under the FLSA

Ø       Review of the recent DOL ruling

Ø       Analysis of the administrative employee exemption under the FLSA

Ø       Explanation of other exemptions – outside sales and highly-compensated employees

Ø       Best practices for your credit union under this ruling

WHY SHOULD YOU PARTICIPATE?

This session is a cost-effective way for your financial institution to learn more about this recent DOL ruling and how you should analyze compensation structures under the Fair Labor Standards Act.  You may train as many individuals as you like for one set price.  There will be no travel costs, no time lost from work, and no one will be required to leave the institution.

WHO SHOULD ATTEND?

This informative session is designed for managers, executive officers, human resource personnel, and loan officers.

DATE & TIME

Tuesday, September 21, 2010 from 2:00 to 3:30 PM

EDUCATIONAL INVESTMENT
1.5 hour webcast ($169)
As a value-added feature for this session, we will be archiving the webcast for 6 months following the live date of the seminar. You may access the archive by clicking on the link beginning 6 business days after the for an additions $25 w/ free CD included. If not registering for live webcast, archive w/ free CD cost is $169.

Please note:  Your registration fee allows you to have one telephone connection.  However, as many people as you like may listen from your office speaker phone.  If you register for the webinar, your registration fee also includes one internet connection from a single computer terminal.

ABOUT THE PRESENTER – Elizabeth Fast, JD & CPA, Spencer Fane Britt & Browne LLP
Elizabeth Fast, Esq. is a partner with Spencer Fane Britt & Browne LLP where she specializes in the representation of financial institutions.  Elizabeth is the head of the firm’s training division.  She received her law degree from the University of Kansas and her undergraduate degree from Pittsburg State University.  In addition, she has a Master of Business Administration degree and she is a Certified Public Accountant.  Before joining Spencer Fane, she was General Counsel, Senior Vice President, and Corporate Secretary of a $9 billion bank with more than 130 branches, where she managed all legal, regulatory, and compliance functions.  She is a member of the Missouri State Banking Board by appointment of the Governor.