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OSHA Releases Interim Dodd-Frank Whistleblower Regulations

OSHA recently released the interim final text of regulations implementing the whistleblower protection provision (Section 1057) in Dodd-Frank. The interim final regulations establish the timing and processes for handling...more

OSHA Publishes Interim Final Rule for CFPA Whistleblower Claims

Companies providing consumer finance products or services should review policies and training materials to ensure compliance. On April 3, the Occupational Safety and Health Administration (OSHA) published an interim...more

OCC Issues Booklet On Wage Garnishment

On April 1, the OCC issued a booklet titled “Garnishment of Accounts Containing Federal Benefit Payments.” The booklet, a new addition to the Comptroller’s Handbook, includes interagency guidance and examination procedures...more

Illinois Supreme Court Debates Jurisdiction Over Pension Dispute

The Illinois Supreme Court seemed conflicted during an extremely active oral argument in late January in the high-profile pension case People ex rel. Madigan v. Burge. Burge poses the following issue: can the Attorney General...more

Is Your 401(k) Vendor a Fiduciary? The U.S. Department of Labor Thinks It Is

If you adopted a pre-approved 401(k) plan through an outside vendor such as Fidelity, Vanguard, or one of the large insurance companies, your choices were limited to what your vendor offered. Further, the documents you had to...more

Time’s Up: Supreme Court Upholds Enforcement of Claim Limitations in ERISA Plan Language

Christmas may have come a little early for plan administrators and companies looking for clarity in ERISA litigation. Last Monday, the U.S. Supreme Court ruled 9-0 in Heimeshoff v. Hartford Life & Accident Insurance Co. that...more

The PBGC Not Entitled to Administrative Deference for Involuntary Plan Termination

As we previously noted, the PBGC filed a complaint (E.D. Pa. Case No. 13-02069) to involuntarily terminate a defined benefit plan prior to a corporate transaction that would change the plan sponsor’s controlled group. The...more

ERISA — Second Circuit: What does it take to assert an effective exhaustion of remedies defense in ERISA cases?

What does it take to assert an effective exhaustion of remedies defense in ERISA cases? Properly drawn plan documents that expressly impose the duty upon the claimant to exhaust remedies before bringing a lawsuit....more

SEC Adopts Final Rules for Municipal Advisors

The SEC issued final rules requiring the registration of municipal advisors in SEC Release No. 34-70462 (the “Release”). The rules implement Section 975 of the Dodd-Frank Act, which amended Section 15B of the Securities...more

Loan Officers Petition D.C. Circuit To Review Decision Regarding Overtime Exemption

Three loan officers at Quicken Loans Inc. have petitioned the U.S. Court of Appeals for the District of Columbia Circuit for en banc reconsideration of a recent ruling that invalidated U.S. Department of Labor (DOL) guidance...more

New Jersey Becomes the Twelfth State to Enact Social Media Password Protection Legislation; Recent Amendment to Illinois’ Law...

On August 29, 2013, New Jersey became the twelfth state to enact social media password protection legislation, continuing the nationwide trend towards imposing some form of restriction on employer access to the restricted,...more

Mortgage Loan Officers Are Exempt From Wage And Hour Laws Again--For Now

The D.C. Circuit Court of Appeals has vacated the U.S. Department of Labor’s 2010 guidance that stated that most mortgage loan officers are not exempt from minimum wage and overtime compensation under the Fair Labor Standards...more

Appeals Court Strikes Down Labor Department’s Interpretation Regarding Exempt Status of Mortgage Loan Officers

In a victory for the Mortgage Bankers Association (“MBA”), a federal Court of Appeals has vacated an “Administrator’s Interpretation” issued in 2010 by the U.S. Department of Labor Wage and Hour Division (“DOL”) regarding the...more

D.C. Circuit Sanctions Labor Agency 'Flip-Flop' on Overtime Requirements for Mortgage Loan Officers

The U.S. Court of Appeals for the District of Columbia Circuit recently vacated a 2010 interpretation of federal wage and hour law in which the Department of Labor (DOL) had concluded that mortgage loan officers do not...more

CalPERS To Consider External Investment Resource Disclosure Rule

Last August the Investment Committee of the California Public Employees’ Retirement System (CalPERS) approved revisions to its External Investment Resource Conflict of Interest Policy. A week later, I asked the Office of...more

CFPB Powers Could Be Invalidated Following Ruling on NLRB Recess Appointments

On January 25, 2013, the U.S. Court of Appeals for the D.C. Circuit ruled that President Obama’s purported “recess appointments” to the NLRB last year are constitutionally invalid....more

Deadline Approaches for Gainful Employment Disclosures

Institutions of higher education that receive Title IV funding must properly disclose certain information concerning course offerings that are or may be considered gainful employment programs by the U.S. Department of...more

Employers Should Use Revised FCRA Disclosure for Employees and Job Applicants

Employers who use consumer reports as part of their decision-making process in the hiring, promotion or firing of employees should note the attached “A Summary of Your Rights under the Fair Credit Reporting Act” issued by the...more

New and Improved Retirement Plan Correction Program Includes Crucial 403(b) Relief

On December 31, 2012, as Times Square in New York was getting ready to drop the crystal ball, the Internal Revenue Service (IRS) dropped long-awaited guidance regarding retirement plan corrections in the form of Revenue...more

IRS Updates Employee Plans Compliance Resolution System

The Internal Revenue Service (IRS) recently updated the Employee Plans Compliance Resolution System (EPCRS), the comprehensive system of correction programs for sponsors of qualified retirement plans. The components of EPCRS...more

New Federal Agency Rings In The New Year With New FCRA Background Check Forms

Employers that use third parties to perform background checks on applicants or employees must start using new Fair Credit Reporting Act (FCRA) forms immediately. The new Consumer Financial Protection Bureau, which is...more

American Taxpayer Relief Act of 2012: Tax Implications for U.S. Taxpayers Living Abroad

Although the American Taxpayer Relief Act of 2012 (“Fiscal Cliff Legislation”) passed last week does not contain any sweeping changes targeted at U.S. taxpayers living abroad, a number of provisions are relevant to such U.S....more

Conducting Workplace Investigations

Recently, when advising a client who was investigating a complaint of sexual harassment, I had the opportunity to revisit the EEOC’s Enforcement Guidance: Vicarious Employer Liability for Unlawful Harassment by Supervisors...more

D.C. Court of Appeals may soon invalidate President Obama’s NLRB recess appointments: implications for CFPB

Earlier today, we reported on the panel discussion of the lawsuit filed by State National Bank of Big Spring that took place at the ABA Committee on Consumer Financial Services in Naples, Florida during a session entitled...more

CII Submits Rule 10b5-1 Rulemaking Petition to the SEC

On November 28 the Council of Institutional Investors (CII), an association of public, corporate and union pension funds and other employee benefit plans, submitted a letter to Securities and Exchange Commission Chairman...more

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