DOL’s Overtime Rule Dead – For Now. A federal district court in Texas recently struck down an Obama administration proposal that would have made millions of people eligible for overtime pay. Judge Amos Mazzant of the U.S. District Court for the Eastern District of Texas on Aug. 31 invalidated the DOL’s pending overtime regulations, which would have raised the salary threshold exemptions under the Fair Labor Standards Act. The Obama administration finalized the proposed regulations in May last year but was unable to implement them after Mazzant granted a request for injunction filed by the Plano Chamber of Commerce and 55 other business groups last November. The business entities opposed the proposed rule, which would have raised the minimum salary threshold necessary to qualify for the FLSA’s overtime exemption. The salary threshold would have increased from ...
Rob Zimmer, a former Freddie Mac executive: “Republicans run this town, obviously, and there is no way they want to be identified as the party of taxpayer bailouts for large financial institutions.”
“We’ve gotten wind that we could see at least one other large money center bank enter the securitization markets,” said Christopher Abate of Redwood Trust…
The correspondence, which includes the signature of ranking minority member Sherrod Brown, D-OH, notes: “We are simply requesting that the GSEs be permitted to build capital...."
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