A final rule from the Department of Labor raising the exemption threshold for overtime pay could come as early as July 2016, according to the DOL’s semiannual regulatory agenda released last week. The proposed rule would update the Fair Labor Standards Act to more than double the overtime pay exemption threshold from $23,660 to $50,440.
The CFPB has withdrawn a proposed rule to prohibit contractual provisions in agreements for consumer financial products or services that waive “substantive” consumer legal rights and protections.
The rate for a 30-year fixed-rate mortgage was 6.81% this week. The rate for a 15-year fixed-rate mortgage was 5.92%.
More than four in five Americans believe that financial education should be part of high school curricula, according to a recent survey. Twenty-seven states currently require such courses.
The CFPB has withdrawn two proposed rules concerning data brokers and digital payment mechanisms. Both were proposed after the 2024 elections.
The Producer Price Index decreased 0.5% in April from the previous month, the Labor Department reported.
Builder confidence in the market for single-family homes in May was 34, down from 40 the previous month, according to the NAHB/Wells Fargo Housing Market Index.
