Rules of Non-exempt Versus Exempt Employees

Answered by:

Question:

I would like to know for compliance the rules of non-exempt versus exempt for employees in a banking setting. What criteria must be met for the employee to be marked exempt? Are there any legal risks in paying exempt for non-exempt classified employees but still offering overtime pay?

Answer:

Refer here and the various imbedded links:

https://www.dol.gov/sites/dolgov/files/WHD/legacy/files/fs17a_overview.pdf

There is other guidance on the Department of Labor Website.

If you are talking about mortgage loan officers, you might want to do some research on the court cases involving mortgage loan officers that went to the Supreme Court.