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Wednesday, July 26, 2017

Labor Department Seeks Comments on Stalled Overtime Rule

The Department of Labor released an anticipated request for information on the Obama administration’s final overtime rule, which would have doubled the salary needed for employees to be exempt from overtime pay. That rule, which was to be effective on Dec. 1, 2016, was stalled at the last moment by a preliminary injunction from a Texas federal district court that remains in place while litigation continues.

The RFI is widely seen as a first step in a possible rewrite of the rule, and it raised a number of broad issues including how a new salary level should be calculated, whether there should be multiple salary levels and whether the duties tests should change. DoL also sought input on how employers made personnel changes to comply with the rule, as well as their responses to the injunction.

Comments on the RFI are due by Sept. 25. Just as the American Bankers Association reached out to its members, state bankers associations and other groups to collect data in opposition to the final rule, the association is again seeking input from members on the overtime rule’s impact. This gives the banking industry the opportunity to build upon the previous concerns ABA has raised, such as how this rule is particularly harmful to community banks and those with branches in rural areas. 

Read the RFI.
Read ABA's comment letter

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