Items Tagged with 'Department of Labor'


  • Trump administration wants to make it easier to save for retirement

    Executive order seeks to strengthen retirement security
    Americans have not saved enough for retirement, and it’s a problem that some are calling a looming crisis as the population continues to age. President Donald Trump addressed the issue today, signing an executive order that would expand access to retirement savings plans for American workers.
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  • Trump makes health care more affordable for small businesses

    Housing industry applauds new rule
    Tuesday, the Department of Labor announced a new rule that experts in the housing industry say will make health care more affordable for small businesses. The department announced a new rule that will change the definition of employer to include working owners for Association Health Plans.
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  • Wells Fargo ordered to pay $575K, rehire fake account whistleblower

    Bank punished by Department of Labor over firing branch manager
    Just when it seemed like the ripples of Wells Fargo’s fake account scandal were calming down slightly, the Department of Labor is throwing another pebble into the pond. The Labor Department announced Friday that it ordered Wells Fargo to pay $577,500 in back pay, damages, and legal fees to a whistleblower who was fired by the bank after she reported that at least three of the “private bankers” working for her were opening accounts in customers’ names without their consent.
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  • Trump administration takes on controversial overtime labor law

    Attempts to rework rule
    After a federal judge filed an injunction against the Obama administration’s controversial overtime rule at the end of last year, the Trump administration revealed it wants to rework the rule and give it another shot. However, this new overtime rule will likely look a lot different. Here’s what the new administration wants.
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  • Controversial overtime labor law stopped short of the starting line

    Initially set to take effect Dec. 1.
    Barely making the cut before the rule took effect, a federal judge blocked the new overtime labor law that would significantly change overtime pay. Since the rule never took effect, it’s hard to say the exact impact it would’ve had on the housing industry. However, it had the potential to create drastic change, especially for small business.
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  • Here's how the new overtime labor law will change the housing industry

    Salaried employees making less than $47K must be compensated for anything over 40 hours
    Starting Dec. 1, 2016, overtime will have a whole new meaning since the White Collar Exemption salary threshold is about to jump by more than 100%. There’s just over two months until this law goes into effect, and with the housing industry projected to boom up to $2 trillion this year, the need for overtime isn’t going away anytime soon. Something will have to give.
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  • Labor Department launches "top-to-bottom" review of Wells Fargo

    Answers call from eight senators to open investigation
    Wells Fargo has its hands full these days. The beleaguered megabank is already facing a $185 million fine for the recent fake account scandal, which subsequently led to ongoing investigations from the House Financial Services Committee and the Department of Justice, not to mention a rough appearance before the Senate Banking Committee for Wells Fargo CEO John Stumpf. And now, the bank is facing a thorough review of its labor practices.
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  • Senators want Labor Department investigation of Wells Fargo

    Sanders, Warren, others question whether bank "aggressively skirted" labor laws
    Wells Fargo and its CEO, John Stumpf, took plenty of lumps earlier this week when Stumpf appeared before the Senate Banking Committee to discuss the $185 million fine the bank is facing, but some of the members of the Senate are far from being done with Wells Fargo. In fact, a group of eight senators are now calling on the Department of Labor to investigate Wells Fargo for potential labor law violations stemming from the company’s “aggressive” sales culture.
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  • Obama Administration selects final Promise Zone communities

    Brings economic growth to areas in distress
    More than two years after announcing the first round of Promise Zones, high-poverty areas of a city that will receive economic help, the Obama administration announced its last round of communities. Find out where they are located, how they were chosen and what this will mean for the future.
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  • Jobless claims increase by 20,000

    Highest level since February
    The housing industry's focus continues to remain set on the labor market, as the latest jobless claims report posts filings increased in the week ending May 7. Jobs are in the spotlight since it’s a significant factor in whether or not the Federal Reserve will raise interest rates.
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