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

Senators introduce bill requiring online platforms to crack down on scam ads

ABA, state associations: SCAM Act will reduce consumer fraud losses

Compliance and Risk
April 13, 2026

Legislation to hold social media companies accountable for the scam ads appearing on their platforms would reduce consumer fraud losses by targeting “a key entry point” for the crime, ABA and 52 state bankers associations said in a...

ABA Data Bank: Crude oil rises to 10-month high

OFAC exemption for Russia oil sanctions expires

Compliance and Risk
April 13, 2026

The Office of Foreign Assets Control did not extend a one-month exemption on sanctions for Russian oil exports, which expired on April 11.

ABA opposes proposed changes to credit union subordinated debt rule

ABA recommends credit union regulator pause stablecoin rulemaking

Compliance and Risk
April 13, 2026

The National Credit Union Administration should pause setting up a process through which credit unions can seek approval to issue stablecoins through a subsidiary until the agency has proposed other regulatory safeguards for stablecoin issuers, ABA said in...

Mild home appreciation in November as regions diverge

ABA DataBank: Existing home sales fell 3.6% in March

Economy
April 13, 2026

The ABA Office of the Chief Economist sees the decline in existing home sales as driven by continued affordability concerns.

FDIC proposes defining unsafe and unsound practices, removing reputational risk

FDIC rescinds guidance on representment NSF fees

Compliance and Risk
April 10, 2026

The FDIC rescinded a 2023 financial institution letter that had stated that banks’ charging representment nonsufficient funds fees may be a deceptive or unfair practice under section 5 of the Federal Trade Commission Act.

Factory orders increase in February

Factory orders held steady in February

Economy
April 10, 2026

New orders for manufactured goods in February increased $300 million from the month prior to $620.1 billion, marking the second consecutive month in which the totals were virtually unchanged.

NEWSBYTES

ABA, state associations: SCAM Act will reduce consumer fraud losses

April 13, 2026

OFAC exemption for Russia oil sanctions expires

April 13, 2026

ABA recommends credit union regulator pause stablecoin rulemaking

April 13, 2026

SPONSORED CONTENT

Planning Your 2026 Budget? Allocate Resources to Support Growth and Retention Goals

How leading banks are enhancing customer engagement through financial data insights

April 10, 2026
Check Fraud Is Outpacing Legacy Controls. What Banks Should Evaluate Now.

Check Fraud Is Outpacing Legacy Controls. What Banks Should Evaluate Now.

April 1, 2026
How top agricultural lenders are approaching AI, automation and innovation in 2026

How top agricultural lenders are approaching AI, automation and innovation in 2026

March 2, 2026
Top 7 FP&A Trends in Banking for 2026

Top 7 FP&A Trends in Banking for 2026

March 1, 2026

PODCASTS

Podcast: Capitalizing on opportunities to serve high-net-worth clients

April 9, 2026

Podcast: Are credit union commercial loans risky business?

March 30, 2026

Podcast: Risk and strategy in sponsor banking

March 19, 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.