Four Things To Know On A Beautiful Tuesday Morning  

September 15, 2020 at 9:29 am Leave a comment

You can tell that the COVID summer of 2020 has come to an unofficial end.  This morning is the first one in a while in which I want to highlight several recent developments, any one of which is worthy of a blog in the future.

DOL Releases New Regs on Emergency Leave Authorization

The US Department of Labor on Friday issued updated regulations, which among other things, are intended to clarify when an employee can take intermediate paid family leave and when an employee is eligible for leave even when there is no work available for the employee to perform.  These updated regulations are in response to an August 3rd ruling by a New York Federal judge that the Department of Labor exceeded its authority when it promulgated the initial regulations which implemented key provisions of the Families First Coronavirus Response Act.  I will have more about this by the end of the week.

Realtor Practices Under The Microscope

The State Senate announced that it would be holding a second joint hearing on Thursday investigating allegations that realtors on Long Island discriminate against minority homebuyers by steering them to houses in minority communities.  The hearing will be the second to examine the issue, which was the subject of an expose by Long Island Newsday last year.  This hearing is unusual in that some witnesses had to be subpoenaed in order to testify.

One Heck Of A Loophole

In the “Better Late Than Never” category, FinCEN has proposed regulations mandating that banks, credit unions and trust companies which currently fall outside the jurisdiction of federal regulators, must now comply with Bank Secrecy Act (BSA) requirements, including implementing appropriate Customer Identification Procedures.  I was more than a little surprised after reading this regulation that entities, including credit unions which use private share insurance instead of participating in the National Credit Union Share Insurance Fund (NCUSIF), have not been subject to the BSA framework even though it has been the top priority of regulators since the 9/11 attacks.

The Big Question

The last six months have changed almost everything, so why do my New York football Giants look like the same lousy football team which has amassed the fewest victories in the NFL over the last three years?

Entry filed under: COVID-19, HR, Mortgage Lending, New York State, Regulatory. Tags: , , , , , , .

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Authored By:

Henry Meier, Esq., Senior Vice President, General Counsel, New York Credit Union Association.

The views Henry expresses are Henry’s alone and do not necessarily reflect the views of the Association. In addition, although Henry strives to give his readers useful and accurate information on a broad range of subjects, many of which involve legal disputes, his views are not a substitute for legal advise from retained counsel.

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