Browsing: FLSA

Compliance and Risk

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

Human Resources

The Labor Department’s proposal redefining which employees are eligible for overtime eviscerates the longstanding “duties test” and fails to address the significant differences in wage rates and costs of living across the country, ABA said in an extensive comment letter Friday. “The proposal would transform the salary level from its historical role as a screening

Human Resources

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.

Human Resources

ABA is seeking banker input on how the Department of Labor’s controversial overtime proposal — which would more than double the current salary necessary for employees to be exempt from overtime and will affect most banks in the country — would affect their banks.