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ESA News Release: [10/25/2004]
Contact Name: Jane
Norris or Peggy Abrahamson
Phone Number: (202) 693-4676 or x 5052
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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