Mortgage Bankers Association and DOL Establish
Partnership To Promote Awareness of Employment Laws

WASHINGTON-The U.S. Department of Labor (DOL) and the Mortgage Bankers Association (MBA) signed an agreement today to work together to promote greater awareness of and compliance with DOL's employment laws among businesses in the mortgage banking industry.

The partnership was established through DOL's new Partnerships for Compliance Assistance Program (PCAP) and will be managed by the Office of Compliance Assistance Policy. As a partner, MBA will help DOL educate mortgage bankers about resources available to assist them in fulfilling their responsibilities under the various employment laws that DOL administers.

"As a critical link in the time-honored American dream of homeownership, mortgage banking institutions employ hundreds of thousands of people across our nation," said Al Robinson, acting administrator of the Department of Labor's Wage and Hour Division. "This partnership will help us deliver valuable information to these employees and their employers and further our goal of protecting their pay, benefits, safety and health."

"The Mortgage Bankers Association is pleased to join Secretary Chao and the U.S. Department of Labor in this new partnership effort that will help our member companies comply with the labor laws of our nation and educate their employees about their rights and responsibilities," said MBA President & Chief Executive Officer Jonathan L. Kempner. "The information provided by this partnership will go a long way in helping our member companies understand and comply with the nation's labor laws."

Examples of activities DOL and MBA will collaborate on include promoting new compliance assistance tools and compliance assistance information through Web sites, print and other electronic media and publications. In addition, DOL and MBA representatives will participate in conferences, forums and stakeholder meetings.

MBA is the national association representing the real estate finance industry, an industry that employs more than 400,000 people in virtually every community in the country. Headquartered in Washington, D.C., the association works to ensure the continued strength of the nation's residential and commercial real estate markets; to expand homeownership prospects through increased affordability; and improve access to affordable housing to all Americans.

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Archived News Release — Caution: Information may be out of date.