ABA Issues Free Staff Analysis of Overtime Rule

ABA has posted a members-0nly staff analysis of the Department of Labor’s final overtime rule, which changes the tests for determining which employees are exempt from overtime pay under the Fair Labor Standards Act. The analysis summarizes the rule changes, which take effect Dec. 1, and suggests next steps to help banks implement them.

The overtime rule is also the topic of a June 16 ABA briefing that will provide insight on the likely impacted positions, self-audit steps to evaluate compliance options, and practical implementation tips.