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Financial Services

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Recent Blog Posts

  • On December 27, 2020, President Donald Trump signed into law a $900 billion pandemic relief bill that provides extended relief for qualified student loan borrowers. Known as the “Heroes Act,” the stimulus package is a win for borrowers seeking student loan repayment from their employers. The initial $2.2 trillion stimulus package that Congress passed in March 2020 – the “Cares Act” –temporarily expanded Section 127 of the Internal Revenue Code (the “IRC”) to permit employers to make tax-free payments of up... More
  • On October 1, 2020, numerous laws in Maryland providing expanded protections for both existing employees and job applicants addressing race and sex discrimination, pay equity, and wage transparency went into effect.  As we begin a new year, employers should review these new laws to ensure compliance. Expansion of Employers’ Notification and Reporting Obligations for Workforce Layoffs Maryland has instituted its own version of the federal Worker Adjustment and Retraining Notification (“WARN”) Act with the passage of H.B. 1018/S.B. 780. This “mini”... More
  • As featured in #WorkforceWednesday:  With President-Elect Biden’s inauguration next week, and the Democrats taking a narrow majority in both houses of Congress, we’re likely to see shifts in policy at the agencies that regulate employment. Attorney Robert O’Hara discusses what we’re likely to see coming out of the EEOC in the near term, and how the change in party control could affect the agency moving forward. Video: YouTube, Vimeo.... More
  • The California Privacy Rights Act (“CPRA”) leaps forward on cybersecurity by amending the California Consumer Privacy Act (“CCPA”) to impose enhanced protections. The CPRA enhancements apply to “for profit” companies and other organizations: (a) with more than $25 million in gross revenues in the preceding calendar year, or (b) that annually buy, sell or share the personal information of 100,000 or more consumers or households, or (c) that derive at least 50 percent of their annual revenue from selling or... More
  • As featured in #WorkforceWednesday:  President-Elect Biden has chosen Marty Walsh to serve as Labor Secretary in his administration. Walsh is Boston’s mayor and a former top union leader. Attorney David Garland tells us more. Video: YouTube, Vimeo, Instagram.... More
  • As of December 29, 2020, Michigan employers are no longer required to permit employees to self-quarantine for up to 14 days due to alleged close contact with an individual displaying COVID-19 symptoms. Recent amendments to Michigan’s Anti-Retaliation COVID-19 law reflect updated CDC guidance reducing the recommended length of quarantine for individuals who suspect exposure to COVID-19. Previous CDC guidance recommended that individuals quarantine for up to 14 days following close contact with an individual displaying COVID-19 symptoms. Now, the CDC... More
  • On October 30, 2020, the Department of Labor (DOL) adopted the Final Rule amending the Investment Duties DOL Regulation, §2550.404a-1, which governs the obligations of ERISA fiduciaries when selecting investments for ERISA plans.  The Final Rule made several changes to the June 2020 Proposed Rule, which proposed to define the duties of fiduciaries when considering investments that promote environmental, social, and corporate governance goals (ESG investments).  As reported here, DOL received extensive and largely negative comments to the Proposed Rule... More
  • As many employers approach their one-year anniversary of working from home, it is obvious that the COVID-19 pandemic has permanently changed both how and where we work. By 2025, an estimated 36.2 million Americans will be working remotely—a staggering 87% increase from pre-pandemic levels.  Moreover, surveys reveal that company leaders plan to permit employees to work from home at least part of the time upon reopening their offices. However, a remote workforce poses a challenge for employers that must display... More
  • As featured in #WorkforceWednesday:  The past year tested our resilience, and COVID-19 forced everyone to think creatively and adapt quickly. Nowhere was that seen more clearly than in the workplace. See our video featuring attorneys Brian Cesaratto, Denise Dadika, Nathaniel Glasser, RyAnn McKay Hooper, Shawndra Jones, Cassandra Labbees, Robert O’Hara, and George Carroll Whipple. Video: YouTube, Vimeo.... More
  • On November 16, 2020, the Russian government approved new rules increasing the rates of remuneration employers must pay employees for their inventions, utility models and industrial designs (the “Rules”).  The Rules will be effective from January 1, 2021 until January 1, 2027. Employers’ Rights to Their Employees’ Patentable Objects and Employees’ Entitlement to Remuneration In Russia, the exclusive rights to patentable objects (e.g., inventions, utility models and industrial designs) that employees create as part of their employment duties or as a specific... More