Blogs

This past Friday, employers scored a victory when a Texas federal judge struck down the Department of Labor’s (DOL) rule which increased the salary levels for the Fair Labor Standards Act’s (FLSA) executive, administrative, professional, and highly compensated employee overtime exemptions. The court’s ruling vacated the DOL’s entire rule and blocks its application nationwide.

Shutts & Bowen would like to inform you that earlier this week the U.S. Financial Crimes Enforcement Network (“FinCEN”) announced a temporary postponement of the Beneficial Ownership Information (BOI) reporting deadlines for companies impacted by recent hurricanes and other major storms. This extension aims to alleviate the burden on businesses and individuals grappling with recovery efforts.

The U.S. Department of Transportation’s Build America Bureau recently announced its first Transportation Infrastructure Financing and Innovation Act (“TIFIA”) loan for transit-oriented development projects.  Such loans support transportation development with a variety of financing structures, including public-private partnerships and private activity bonds. 

On August 20, 2024, U.S. District Judge Ada Brown in Texas issued a final order in the pending case, Ryan v. FTC, holding that the Federal Trade Commission (FTC) exceeded its authority in issuing a ban on noncompete clauses. This ruling effectively halts nationwide the implementation of the FTC’s controversial new rule (the “Rule”) that prohibited the use of most noncompete agreements in the employment setting.