Demographic market concentration trends, regulatory changes, and business condition developments raise legal issues your bank's lawyer may not be aware of; here are my top ten:
10. Reconsider arbitration policy application; Dodd Frank changes to SOX whistle-blowing may make it less attractive to have such a policy for middle management whose most attractive claims often will be this kind of action, Pub. L. No. 111-203, 124 Stat. 1376, 1746, 1848 (codified as amended at 7 U.S.C. § 26(n) and 18 U.S.C. § 1514A(e)), and recent Supreme Court decisions allowing a proper arbitration policy to eliminate class and collective actions may make it more attractive to focus one on tellers and other non-exempt employees. See American Express Co. v. Italian Colors Restaurant, 133 S.Ct. 2304 (June 20, 2013)...
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Topics: Acquisitions, Arbitration, Audits, Banks, Class Action, Collective Actions, Diversity, Dodd-Frank, Employer Liability Issues, Exempt-Employees, Non-Exempt Employees, Sarbanes-Oxley, SCOTUS, Social Media Policy
Published In: Alternative Dispute Resolution (ADR) Updates, Civil Rights Updates, Finance & Banking Updates, Labor & Employment Updates, Privacy Updates
DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.
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