Loan Officer Compensation Hearing Could Delay Effective Date

Update from Potomac Partners:

We are currently in a waiting period until Tuesday afternoon (April 5th) at the earliest and probably later in the week.  The Federal Reserve Board must submit its brief by Monday (April 4th) and the brokers have one day  to respond to the Fed’s brief.  As we advised you on Friday, the U.S. Court of Appeals granted the hearing without considering the merits of the brokers’ case.   Regardless of the decision rendered by the Court, at a minimum, it is likely that a new implementation date will be established.  Of course, the Court could also send the issue back to District Court for a hearing which would would further delay implementation.

So, even if the suit fails–there could be a delay in the effective date.


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: