All articles tagged with #us department of labor
Originally Published 7 months ago — by Financial Times
The US Department of Labor has relaxed its guidance, allowing retirement plan managers to consider including cryptocurrencies like Bitcoin in 401(k) plans, signaling a more permissive stance under the Trump administration compared to the previous Biden administration, and reflecting a broader move towards embracing digital assets in investment portfolios.
Originally Published 7 months ago — by U.S. Department of Labor (.gov)
The US Department of Labor has rescinded its 2022 guidance that discouraged including cryptocurrency in 401(k) plans, reaffirming its neutral stance and emphasizing that investment decisions should be made by fiduciaries, not regulators.
Originally Published 1 year ago — by Department of Justice
The CFO of a multinational media company, Weidong Guan, has been charged with laundering approximately $67 million in fraud proceeds, including unemployment insurance benefits, through a complex transnational scheme involving cryptocurrency. Guan allegedly lied to banks about the source of the funds, claiming they were donations. He faces up to 80 years in prison if convicted.
Originally Published 1 year ago — by TESLARATI
The US Department of Labor has filed a complaint against Hyundai and two Alabama companies for employing a 13-year-old child in an assembly plant. The investigation revealed the child worked 50-60 hours per week operating machines for auto parts. The complaint names Hyundai Motor Manufacturing Alabama LLC, SMART Alabama LLC, and Best Practice Service, LLC, alleging they willfully violated child labor laws.
Originally Published 1 year ago — by CBS News
The U.S. Department of Labor is suing Hyundai Motor Co., SMART Alabama, and Best Practice Service for allegedly employing a 13-year-old girl on an assembly line in Alabama. The complaint seeks to hold Hyundai accountable for child labor violations at its subsidiary and staffing agency, marking the first time the Labor Department has sued a major company for such violations at a subcontractor. Hyundai denies liability and has taken measures to ensure compliance with labor laws.
Originally Published 1 year ago — by Reuters
The U.S. Department of Labor has sued Hyundai Motor Co, an auto parts plant, and a labor recruiter for using child labor in Alabama. The lawsuit seeks to recover profits related to the illegal employment of children, some as young as 12, at a Hyundai subsidiary and other parts suppliers. The Labor Department's investigation found that a 13-year-old worked up to 60 hours a week at a plant supplying parts to Hyundai. Hyundai claims it no longer owns the subsidiary and has taken steps to address the issue. The case highlights a broader problem of child labor violations in the U.S.
Originally Published 1 year ago — by Yahoo Finance
U.S. business groups have filed a lawsuit to block a Biden administration rule that would extend mandatory overtime pay to 4 million workers, arguing it would force job cuts and limit hours. The rule raises the salary threshold for overtime pay from $35,500 to $58,600 per year. The case is being heard in Sherman, Texas federal court.
Originally Published 2 years ago — by WDAF FOX4 Kansas City
The U.S. Department of Labor reports that over 4,700 workers in Missouri and Kansas are owed a total of $2.4 million in back pay, with a significant amount remaining unclaimed due to difficulties in locating some of the workers. An online search tool called Workers Owed Wages (WOW) has been created to help workers nationwide determine if they are owed back pay. If unclaimed, the Department of Labor's Wage and Hour Division can only hold the funds for three years before turning them over to the Department of the Treasury.
Originally Published 2 years ago — by KTVI Fox 2 St. Louis
More than 3,200 Missouri workers are owed a share of $1.4 million in back pay, with a significant amount remaining unclaimed due to difficulties in locating some of the workers. The U.S. Department of Labor has created an online search tool called Workers Owed Wages (WOW) to help employees nationwide determine if they are owed money and how to receive it. The department urges individuals to use the tool to check if they are eligible for back pay, as unclaimed funds can only be held for three years before being turned over to the Department of the Treasury.
Originally Published 2 years ago — by US Department of Labor
The US Department of Labor has announced a final rule to clarify the classification of workers as employees or independent contractors under the Fair Labor Standards Act, aiming to combat employee misclassification and protect workers' rights. The rule aligns with longstanding judicial precedent and restores a multifactor analysis to determine a worker's status, addressing factors such as opportunity for profit or loss, degree of control by the employer, and the worker's skill and initiative. The new rule will take effect on March 11, 2024, and rescinds the 2021 Independent Contractor Rule that the department believes is not consistent with the law and longstanding judicial precedent.
Originally Published 2 years ago — by WAVY.com
The U.S. Department of Labor states that over 208,000 workers are owed $163.3 million in back pay from companies that violated wage laws, and has set up a website for workers to check if they are owed money. The agency aims to swiftly pay recovered back wages to workers, but employees have only three years to claim any back pay before the funds are sent to the U.S. Treasury. Despite the Labor Department distributing over $26.9 million in owed wages, thousands of employees have yet to claim their money.
Originally Published 2 years ago — by WFXRtv.com
The US Department of Labor states that over 208,000 workers are owed $163.3 million in back pay from companies that violated wage laws, and has set up a website for workers to check if they are owed money. The agency holds unpaid wages on behalf of workers when companies can't locate previous employees, but workers have only three years to claim any back pay before the funds get sent to the US Treasury.
Originally Published 2 years ago — by KRQE News 13
The U.S. Department of Labor reports that over 208,000 American workers are owed $163.3 million in back pay from companies that violated wage laws. The agency has set up a website for workers to check if they are owed money and has recovered over $26.9 million in unpaid wages in 2023. However, workers have only three years to claim any back pay before the funds are sent to the U.S. Treasury.
Originally Published 2 years ago — by ConchoValleyHomepage.com
The U.S. Department of Labor states that over 208,000 workers are owed $163.3 million in back pay from companies that violated wage laws, and has set up a website for workers to check if they are owed money. The agency aims to swiftly pay recovered back wages to workers, but employees have only three years to claim any back pay before the funds are sent to the U.S. Treasury.
Originally Published 2 years ago — by Eater LA
Popular LA Korean barbecue restaurant, Oo-Kook Korean BBQ, has been fined $66,529 for wage theft after a manager participated in the employee tip pool and took over $28,000 in tips that should have gone to workers. The owners will pay unpaid tips and damages to affected employees, as well as a civil penalty. This is not the first time the restaurant has faced wage violation charges, with previous investigations resulting in back wages for workers. The U.S. Department of Labor's cross-regional initiative and collaboration with the Koreatown Immigrant Workers Alliance played a crucial role in uncovering the violations.