Publications

On July 10, 2024 federal bank regulators, Office of the Comptroller Currency (“OCC”) and the Federal Reserve Board (“FRB”), fined Citibank and its holding company, Citigroup (collectively “Citi”), a combined $135.6 million due to “insufficient progress” in addressing “longstanding deficiencies” related to data management, originally identified in 2020. This comes […]

On June 2024, the US Supreme Court overturned a 1984 ruling referred to as the Chevron Doctrine, which instructed lower courts to defer to federal agencies when federal statutes were either silent or ambiguous on the issue in controversy.  Deference was encouraged even if the lower court judge thought that […]

Following the adoption of the Section 501(r) standards by Congress in 2010 and the IRS promulgation of final regulations in 2014, federal tax exemption issues for hospitals have been relatively quiet for several years.  The IRS implemented Schedule H to the Form 990 and hospitals have developed 501(r) compliance and […]

On July 3, 2024, a federal court in the Northern District of Texas issued a temporary injunction against the Federal Trade Commission’s (“FTC”) final rule banning most noncompete agreements (the “Rule”).[1] Baird Holm previously reported on this Rule here. In the decision, the court found that the FTC is not […]

DOL’s Overtime Rule On July 1, 2024, the Department of Labor (“DOL”) began enforcing the first phase of a new overtime rule (the “Rule”) which raises the salary thresholds for certain overtime exemptions under the Fair Labor Standards Act (“FLSA”). Baird Holm previously reported on the Rule’s announcement and finalization […]