Bankers Urged to Seek Extension for Overtime Proposal Comments

As part of the Partnership to Protect Workplace Opportunity, ABA and other trade associations representing employers have urged the Department of Labor to extend by 60 days the comment period on its controversial overtime proposal, which would more than double the salary level required for the exemption from overtime requirements.

ABA is likewise encouraging bankers to take action in seeking more time, as the Sept. 4 deadline does not provide enough time to assess fully the effect of the proposal on employers. Bankers can use the PPWO’s website to urge an extension and to customize their messages to reflect the ways their institutions would be affected by the proposal. For more information, contact ABA’s Cris Naser.