Attorney Deragon Speaks to NH Bankers Regarding Overtime Pay for Loan Originations

CONCORD, NH — Beth A. Deragon, an employment and litigation attorney with Gallagher Callahan & Gartrell, presented at the New Hampshire Bankers Association 23rd Annual Compliance Conference, co-sponsored by the Vermont Bankers Association, Inc., May 19-20, 2010.

Attorney Deragon's presentation was titled: Overtime Pay for Loan Originators. A recent Interpretation by the U..S Department of Labor's Wage & Hour Administrator reverses previous case law and DOL Opinion Letters, which held that mortgage lenders fell under the Fair Labor Standards Act's administrative exemption, and need not be paid overtime for hours worked in excess of 40 a week. This new ruling will lead many banks to rethink their payroll practices and has implications for other banking positions as well.

Bankers who missed the presentation are invited to contact Attorney Deragon for more information.

Deragon advises clients on a variety of employment issues from hiring, discipline, termination, anti-discrimination, harassment, wage and hour compliance, employment agreements, independent contractor agreements, leaves of absence, work place privacy, non-competition agreements, reductions-in-force, and separation agreements, immigration matters and employment litigation.

Gallagher, Callahan & Gartrell is a multidisciplinary law firm located in Concord, New Hampshire.

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