NBA Opposes Proposed Overtime Rule

This week the NBA expressed objections to a U.S. Department of Labor (DOL) proposal that would significantly increase the number of employees covered by the Fair Labor Standards Act's overtime and minimum wage requirements.

Under the proposal, employees earning up to $1,059 per week, equivalent to $55,068 annually, would automatically be subject to those requirements. This represents a significant increase from the 2019 regulations, which set the salary threshold at $684 per week or $35,568 annually.

In a letter to the DOL, the NBA noted, "A bank or small business in rural Nebraska should not be subject to the same wage threshold as a business in Washington, D.C."

Read the Letter