Topic: Human Resources
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The recent amendments to the Equal Pay Act of 2003 will require businesses with more than 100 employees to provide the Illinois Department of Labor (IDOL) with details about its workers and their pay beginning in 2022. Will this data be made public or discoverable through a Freedom of Information Act (FOIA) request?
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We believe that aggregated data that is not associated with a specific person or business may be made public and will be discoverable through a FOIA request. Additionally, we believe a current employee of a covered business may receive anonymized data regarding their job classification and the pay for that classification collected from their employer.…
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Can banks be considered federal contractors under President Biden’s Executive Order requiring federal contractors to pay $15 per hour to workers beginning on January 30, 2022?
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We do not believe that Executive Order 14026 will apply to banks unless an institution enters into a procurement contract with the federal government (for example, to provide financial services in a federal building). Executive Order 14026 establishes a $15 minimum wage as of January 30, 2022, for certain federal contractors and subcontractors. The order…
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When is a bank considered a federal contractor according to the Equal Employment Opportunity Commission’s (EEOC) requirement for filing EEO-1 employer information reports? We have a federal charter, are insured by the FDIC, and have less than 100 but more than 50 employees. Does that make us a federal contractor that needs to file an EEO-1?
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Your bank is required to comply with the EEOC’s EEO-1 reporting requirements if you serve as a depository of U.S. government funds in any amount, serve as an issuing and paying agent for U.S. savings bonds and savings notes, or have a contract with the government or purchase order amounting to $50,000 or more. Under…
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Does the IBA offer any sexual harassment prevention trainings that meet the requirements set forth in the Illinois Human Rights Act? We are aware the Illinois Department of Human Rights offers a model training program, but we would like to know what else is available.
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Yes, the IBA is offering three streaming sexual harassment prevention training programs that meet the requirements set forth in the Illinois Human Rights Act — one for employees only, one for supervisors only, and one for both employees and supervisors. There also is an option to purchase a live virtual training customized to your workplace…
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We’re working on completing our Illinois corporate annual report, and there is a new section concerning female and minority directors. One of the requirements to complete that section is that the corporation is publicly held, and it appears that to meet that definition, the shares of the corporation need to be listed on a major US stock exchange. We recently de-registered our shares and de-listed from the Nasdaq and moved to an over-the-counter stock trading marketplace. Are we required to complete this section?
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No, we do not believe that you are required to complete the section of the corporate annual report concerning female and minority directors. Under a recent amendment to the Illinois Business Corporation Act of 1983, publicly held domestic or foreign corporations must provide the Secretary of State with information about the gender and race or…
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Are banks required to provide employees with paid sick leave if they must be quarantined due to having contact with someone who tested positive for COVID-19? Are employees also entitled to paid leave if they are caring for a child whose school or daycare is closed due to COVID-19? If so, for how long must banks provide paid leave, and can employees be required to use their vacation, sick leave, or personal days?
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Yes, an employer with between fifty and five hundred employees may be required to provide up to two weeks of paid sick leave to quarantined employees and up to twelve weeks of paid leave to employees caring for a child whose school or daycare was closed due to COVID-19 under the Families First Coronavirus Response Act (FFCRA).…
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Our internal auditor is going to perform a human resources (HR) audit of our bank and has requested to see employee files. We are willing to make certain information in the files available to the auditor but do not want to grant access to the whole files. Do the regulators require internal auditors to review whole employee files?
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We are not aware of any law or regulation that requires internal auditors to review whole employee files as part of an internal audit. The OCC’s safety and soundness regulations, the “Internal and External Audits” booklet of Comptroller’s Handbook, and the “Interagency Policy Statement on the Internal Audit Function and its Outsourcing” set forth guidelines…
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Are banks considered retail establishments for purposes of the Restroom Access Act and Chicago’s new Fair Workweek Ordinance?
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We believe that banks are considered retail establishments for purposes of the Restroom Access Act, but not the Chicago Fair Workweek Ordinance. The Restroom Access Act — which requires retail establishments to allow customers to use an employee restroom under certain circumstances — applies to “a place of business open to the general public for…
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Do banks qualify for the CARES Act’s Employee Retention Credit if they are paying employees who are not working or working a reduced schedule during the COVID-19 pandemic?
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Yes, banks with one hundred or fewer full-time employees on average in 2019 may qualify for the Employee Retention Credit (subject to the factors discussed below) regardless of whether their employees worked during the COVID-19 pandemic. Banks with more than one hundred full-time employees on average in 2019 may qualify for the Employee Retention Credit…
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Are you aware of specific COVID-19 signage requirements for branches reopening in Illinois?
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Yes, for all branches in which employees will physically be present, you must post the Illinois Department of Public Health’s Workplace Health and Safety Guidance for Employees and Staff of Businesses. We also recommend posting the U.S. Department of Labor’s Families First Coronavirus Response Act (FFCRA) model notice in your branches. The Illinois Governor’s modified…