U.S. Laws and Regulations Flashcards
The Clayton Act (1914)
Legislation modified the Sherman Anti-Trust by prohibiting mergers and acquisitions that would lessen competition. Prohibits a single person from being a director of two or more competing corporations. Also restricts the use of injunctions against labor and legalized peaceful strikes, picketing and boycotts.
The Consumer Credit Protection Act (1968)
Congress expressed limits to the amount of wages that can be garnished or withheld in any one week by an employer to satisfy creditors. Also prohibits employee dismissal because of garnishment for anyone indebtedness.
The Copeland Anti-kickback Act (1934)
This act precludes a federal contractor or subcontractor from including an employee
The Copyright Act (1976)
Offers protection of “original works” for authors so others may not print, duplicate, distribute, or sell their work.
The Davis-Bacon Act (1931)
Requires contractors and subcontractors on certain federally funded or assisted construction projects worth more than $2000 in the United States to pay wages and fringe benefits at least equal to those prevailing in the local area where the work is performed. Applies to only laborers and mechanics. Also, allows trainees and apprentices to be paid less than the predetermined rates under certain circumstances.
The Dodd-Frank Wall Street Reform and Consumer Protection Act (2010)
This law offers a wide range of mandates affecting all federal financial regulatory agencies and almost every part of the nations financial service industry. It includes a nonbonding vote for shareholders on executive compensation, golden parachutes, and return of executive compensation based on inaccurate financial statements. Also, requirements to report CEO pay compared to the average employee compensation and provision of financial rewards for whistle-blowers.
The Economic Growth and Tax Relief Reconciliation Act (2001)
Modifications to the Internal Revenue Code that adjust pension vesting schedules, increasing retirement plan limits, permitting pretax catch-up contributions by participants older than 50 in certain plans and modifying distribution and rollover rules.
The Electronic Communications Privacy Act (1986)
Composed of 2 pieces of legislation, The Wiretap Act and the Stored Communication Act. Combined, they provide rules for access, use, disclosure, interpretation and privacy protections of electronic communications and they provide the possibility of both civil and criminal penalties for violations. Prevent interception of e-mails. The implications for HR have to do with recording employee conversations. EX: “This call may be monitored or recorded for quality purpose.”
The Employee Polygraph Protection Act (1988)
Before 1988, It was common for employers to use “lie detectors” as tools in investigation of inappropriate employee behavior. This prohibits the use of lie detectors tests for job applicants and employees of companies engaged in interstate commerce. Exceptions made for law enforcement and national security.
The Employee Retirement Income Security Act (1974)
This law doesn’t require employers to establish pension plans but governs how those plans are managed once they have been established. It establishes uniform minimum standards to ensure that employee benefit plans are established and maintained in a fair and financially sound manner; protects employees covered by a pension plan from losses in benefits due to job changes, plant closings, bankruptcies or mismanagement; and protects plan beneficiaries.
The Equal Pay Act (1963)
Equal pay requirements apply to all employers. The act is an amendment to the Fair Labor Standards Act and is enforced by the equal employment opportunity commission. It prohibits employers from discriminating on the basis of sex by paying wages to employees at a rate less than the rate paid to employees of the opposite sex for equal work on jobs requiring equal skill, effort, and responsibility and which are table worth.
The FAA Modernization and Reform Act (2012)
Congress took these actions in 2012 to amend the railway labor act to change union certification election processes in the railroad and airline industries and impose greater oversight of the regulatory activities of the national mediation board. This law requires the GOV Accountability Office initially to evaluate the NMB certification procedures and then audit the NMB operation every 2 years.
The Fair Credit Reporting Act (1970) (Amended in 2011)_
1st major legislation to regulate the collection, dissemination, and the use of the consumer information., including consumer credit info. It requires employers to notify any individuals in writing if a credit report may be used in making an employment decision. Employers must also get a written authorization from the subject individual before asking for a credit report from a credit bureau.
The Fair Labor Standard Act (1938)
The FLSA is one of the handful of federal laws that establish the foundation for the employee treatment. It is a major influence in how people are paid, employment of young people, and in how records are to be kept on employment issues. Introduced max of 44 hour/7 day work week, established national minimum wage, guaranteed time and a half for overtime in certain jobs. First federal law to require employers to maintain records on employee race and sex identification.
Recordkeeping Requirements
Each employer covered by FLSA must keep records for each covered, nonexempt worker. Must include:
- employees full name and social
- address including zipcode
- Birthdate IF younger than 19
- sex
- occupation
- Time + Day of week when employees workweek begins
- Hours worked each day + total hours worked each work week.
- Basis on which employees wages are paid (hourly, weekly etc)
- Regular hourly pay rate
- Total daily or weekly straight-time earnings.
- Total overtime earning for the workweek
- All additions or deductions from the employees wages
- Total wages paid each pay period
- Date of payment and the pay period covered by the payment
