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.
CFPB withdraws proposed ban on certain contract language for financial products
The CFPB has withdrawn a proposed rule to prohibit contractual provisions in agreements for consumer financial products or services that waive “substantive” consumer legal rights and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.