ABA Banking Journal
No Result
View All Result
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive
SUBSCRIBE
ABA Banking Journal
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive
No Result
View All Result
No Result
View All Result
Home Human Resources

‘Fair Pay and Safe Workplaces’ Proposal Released; Most Banks Not Covered

June 18, 2015
Reading Time: 2 mins read

On May 28, the Labor Department, the Defense Department, the General Services Administration, and NASA jointly published proposed requirements and related guidance implementing President Obama’s “Fair Pay and Safe Workplaces” Executive Order 13673. The stated objective of the Executive Order and the proposal is to ensure that federal agencies contract with organizations which comply with federal and state workplace laws. Among other things, the proposal would require covered federal contractors to disclose violations of 14 different labor laws which have occurred within the past three years.

The various executive orders issued by the Obama Administration with different definitions of federal government contractor are definitely creating confusion. Thus, it is important to look specifically at how the term “federal contractor” is defined in each executive order and the statutory authority under which it is issued.

Banks are federal contractors generally because they have TT&L accounts or redeem savings bonds, thus triggering coverage under the affirmative action Executive Order 11246. We note that OFCCP asserts in an FAQ that FDIC insurance is a federal contract, although ABA disagrees with that position. However, under the Fair Pay and Safe Workplaces Executive Order and implementing proposal, “federal contractors” are organizations which enter into “procurement contracts” with a federal agency to supply goods or services to the federal agency. The Executive Order applies to these procurement contracts with an estimated value of the supplies acquired or the services required which exceeds $500,000.

According to Steve Greene, managing member of the law firm of Helms & Greene and founding partner of Employment Law Compliance, given terminology contained in the Executive Order and in the proposed regulations, the contemplated procurement contracts would not extend to TT&L accounts, savings bond activities or relationships with the FDIC. As with other Executive Orders triggered by procurement contract language, Greene believes that most banks are not subject to these new terms. We will review this issue again when the final regulations are released.

Tags: Employee discrimination
ShareTweetPin

Related Posts

Final: Consumer sentiment decreased 3.6 points in September

Economy
September 25, 2026

Consumer sentiment decreased 3.6 points month-over-month in September to 48.1, and is down 7 points from one year ago, according to final results of the University of Michigan Surveys of Consumers. The Current Economic Conditions Index edged down...

ABA DataBank: Protein obsession drives up prices

ABA DataBank: Protein obsession drives up prices

Economy
September 25, 2026

Demand for protein-rich foods and nutritional supplements has continued to increase, contributing to tighter whey inventories and higher prices.

ABA faults banking regulators for confusing CRA rule rollout

House Democrats criticize proposed changes to CRA regulations

Community Banking
September 25, 2026

The Democratic members of the House Financial Services Committee warned banking regulators against “weakening” the Community Reinvestment Act and requested more time for public comment on proposed changes to rules implementing the law.

ABA, 52 state bankers associations urge Congress to close stablecoin interest loophole

ABA, associations urge OCC to broaden application process for stablecoin issuers

Newsbytes
September 25, 2026

As it seeks to implement the Genius Act, the OCC should consider additional factors when reviewing applications from non-bank entities requesting to become payment stablecoin issuers, and it should seek public comment on those applications, ABA and three...

SCAM Act introduced in House

FTC to explore curbing digital advertising practices that enable impersonation scams

Compliance and Risk
September 24, 2026

The Federal Trade Commission said it will explore possible rulemaking to prevent online platforms from using ad-optimization practices that exacerbate impersonation scams. ABA welcomed the announcement.

ABA honors five banks with national bank marketing awards

ABA honors five banks with national bank marketing awards

Newsbytes
September 24, 2026

ABA recognized five banks for outstanding marketing initiatives during the 2026 ABA Bank Marketing Conference in Austin, Texas.

NEWSBYTES

Final: Consumer sentiment decreased 3.6 points in September

September 25, 2026

ABA DataBank: Protein obsession drives up prices

September 25, 2026

House Democrats criticize proposed changes to CRA regulations

September 25, 2026

SPONSORED CONTENT

Beyond the Portfolio: The Wealth Manager’s New Role in a Multigenerational World

Beyond the Portfolio: The Wealth Manager’s New Role in a Multigenerational World

September 17, 2026
Banking Technology at a Strategic Crossroads

Banking Technology at a Strategic Crossroads

September 8, 2026
Taming AI Agent Sprawl: A Playbook for Consumer Lending

Taming AI Agent Sprawl: A Playbook for Consumer Lending

September 1, 2026
Grow Public Deposits Without the Operational Burden End Fragment

Grow Public Deposits Without the Operational Burden End Fragment

September 1, 2026

PODCASTS

Podcast: Making the jump from a high performer to a high-performing leader

September 16, 2026

Podcast: Remembering 9/11, a quarter century later

September 10, 2026

Podcast: Banking the brave new world of college athletics

August 4, 2026

American Bankers Association
1333 New Hampshire Ave NW
Washington, DC 20036
1-800-BANKERS (800-226-5377)
www.aba.com
About ABA
Privacy Policy
Contact ABA

ABA Banking Journal
About ABA Banking Journal
Media Kit
Advertising
Subscribe

© 2026 American Bankers Association. All rights reserved.

No Result
View All Result
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive

© 2026 American Bankers Association. All rights reserved.