Bernanke Says Sluggish Economy Warrants Continued Low Interest Rates

By Sarah Borchersen-Keto, CCH Washington News Bureau, Contributing Author, the CCH Federal Banking Law Reporter, June 7, 2011. While the U.S. economy is moving in the “right direction,” it is still producing at levels well below its potential, making it necessary for low interest rates to persist, Federal Reserve Board Chairman Ben Bernanke said June […]

EBSA To Align Applicability Dates For Fee Disclosure Rules With Fiduciary Disclosures

from Spencer’s Benefits Reports: The Department of Labor’s Employee Benefits Security Administration (EBSA) has proposed to align the applicability dates for its retirement plan fee disclosure rules with its fiduciary-level fee disclosure interim final rule. The notice was published in the in the June 1 Federal Register. EBSA published an interim final ERISA Sec. 408(b)(2) […]

IRS grants tax relief to victims of flooding in Mississippi

The IRS has announced tax relief for taxpayers who reside or have a business in the federal disaster area of Adams, Bolivar, Claiborne, Coahoma, DeSoto, Humphreys, Issaquena, Jefferson, Sharkey, Tunica, Warren, Washington, Wilkinson, and Yazoo counties in Mississippi affected by flooding beginning on May 3, 2011. The relief extends until July 5, 2011 deadlines for […]

DOL submits information collection request for Unemployment Insurance Data Validation Program to OMB

The Department of Labor is submitting an Employment and Training Administration (ETA)-sponsored information collection request entitled “Unemployment Insurance Data Validation Program” to the Office of Management and Budget for review and approval for continued use in accordance with the Paperwork Reduction Act of 1995. Comments must be submitted on or before June 20, 2011. The […]

High Court’s ruling on mandatory E-Verify use may spawn more problems as states follow Arizona’s lead

The Supreme Court’s recent ruling that the Legal Arizona Workers Act (LAWA) is not preempted by federal law may give rise to significant challenges should states follow suit by requiring employers to use the federal E-Verify system to confirm workers’ employment eligibility. Increased identity theft, and in some industries, increased costs to consumers, are two […]

EEOC letter is a lesson on inquiries into illegal drug and alcohol use, criminal histories and financial records

In an informal discussion letter, the U.S. Equal Employment Opportunity Commission (EEOC) recently gave the Office of Personnel Management (OPM) a lesson on lawful inquiries into applicant and employee illegal drug and alcohol use, criminal histories and financial records – the lesson also provides valuable guidance for private employers. The recently released letter addresses questions […]

Geithner Urges Financial Community to Back Strong Regulators

By Sarah Borchersen-Keto, CCH Washington News Bureau, Contributing Author, the CCH Federal Banking Law Reporter, June 6, 2011. Treasury Secretary Tim Geithner warned the financial community that it is in their own best interest to ensure that strong, well-resourced regulators emerge from the overhaul of financial regulation. Speaking June 6, 2011, to the International Monetary […]

Hanson Talks About PCAOB Actions That May Affect Compliance Officers

PCAOB member Jay Hanson talked about advances in technology and the aftermath of the financial crisis in remarks at a May 23, 2011 Compliance Week conference. He said that changes in technology and business models have made it very difficult to understand today’s transactions and products. Valuing those products is hard for both issuers and […]

EEOC meeting will address use of leave as a reasonable accommodation

The U.S. Equal Employment Opportunity Commission (EEOC) is holding a public meeting to examine the use of leave as a reasonable accommodation. The meeting will be open for public observation of the commission’s deliberations. On June 8, beginning at 9:30 a.m. (Eastern Time), the commission will hear from invited panelists on the appropriate use of […]

New Payroll Widget from Wolters Kluwer Law & Business Delivers Instant Access to Latest Payroll Developments

(RIVERWOODS, ILL., June 6, 2011) – Now, it’s easier than ever for professionals to stay up to date and in the know on the latest changes affecting the payroll industry with the new CCH/Aspen Publishers Payroll Widget from Wolters Kluwer Law & Business. Wolters Kluwer Law & Business is a leading provider of information and software […]