Banks of all sizes should take note of these changes and update policies and procedures to avoid running afoul of new rules and regulations. Here is an overview of some notable changes that have taken place in recent months. The Expansion of Federal Overtime Eligibility A U.S. Department of Labor’s final rule that went into effect on July 1 raised the salary threshold for certain employees to be classified as exempt from the Fair Labor Standards Act’s (FLSA) minimum wage and overtime requirements. The law exempts certain employees from its coverage — most commonly executive, administrative and professional employees...
Navigating the New Federal Workplace Rules
Dinsmore & Shohl LLP, August 2024
