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Liam O’Connell, chair of Nutter’s Labor, Employment and Benefits practice group, presented at the Massachusetts Bankers Association’s (MBA) webinar “Changes to FLSA and the DOL’s New Regulations” on October 27. The webinar covered changes to the FLSA and the Department of Labor’s new regulations that will significantly increase the number of employees in the banking industry that will be entitled to overtime pay. The new regulations, effective on December 1, 2016, increase significantly the salary level required for an employee to be eligible for an exemption from overtime. Liam’s presentation included an overview of the exemptions to the FLSA’s overtime requirements, and a discussion of the qualifying salary changes. He also discussed treatment of non-discretionary bonuses and the law’s annual update mechanism, as well as compliance strategies for banking institutions, and banking job titles/duties that present unique challenges.