Burr & Forman

08.29.2013   |   Articles / Publications

Burr Alert: Top 10 Bank Hidden Employment Issues

Demographic market concentration trends, regulatory changes, and business condition developments raise legal issues your bank’s lawyer may not be aware of; here are my top ten:

10. Reconsider arbitration policy application; Dodd Frank changes to SOX whistle-blowing may make it less attractive to have such a policy for middle management whose most attractive claims often will be this kind of action, Pub. L. No. 111-203, 124 Stat. 1376, 1746, 1848 (codified as amended at 7 U.S.C. § 26(n) and 18 U.S.C. § 1514A(e)), and recent Supreme Court decisions allowing a proper arbitration policy to eliminate class and collective actions may make it more attractive to focus one on tellers and other non-exempt employees. See American Express Co. v. Italian Colors Restaurant, 133 S.Ct. 2304 (June 20, 2013).
9. Audit stock option distribution; criteria may not survive glass ceiling OFCCP review or discrimination law scrutiny. See, e.g., Velez v. Novartis Pharm. Corp., 04-9194 (S.D.N.Y. 2010) (settling discrimination and equal pay claims over stock options and other forms of compensation that allegedly favored men for $175 million).
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