Trades Request Extension of Comment Period on DOL Minimum Wage and Overtime Proposal.
The Clearing House Association joined by five other banking trade associations filed a letter requesting a 60-day extension of the Department of Labor’s comment period on proposed rulemaking regarding changes to the exemption from minimum wage and overtime pay for executive, administrative, professional, outside sales and computer employees. In the letter, the trade associations argue that the proposed rulemaking is too important, and could have profound effects on millions of employees and employers, to relegate to a routine 60-day notice comment.