NAFCU Statement on Blocking of DOL Overtime Rule

FOR IMMEDIATE RELEASE | November 23, 2016

NAFCU Statement on Blocking of DOL Overtime Rule

FOR IMMEDIATE RELEASE

Washington (Nov. 22, 2016)-- National Association of Federal Credit Unions (NAFCU) Executive Vice President of Government Affairs and General Counsel Carrie Hunt issued the followingstatement in response to the nationwide injunction issued by U.S. District Judge Amos Mazzant in Sherman,Texas on the Dept. of Labor's overtime rule.

"This is a welcome delay for many small businesses, especially credit unions, that would not have been able to integrate this immense increase without impacting the services they provide," said Hunt. "NAFCU and our members believe that this rule would have created major unintended consequences and obstructed growth opportunities for many white collar workers. Ultimately, in its current form, this rule could hurt the people it was trying to help."

The rule was set to take effect Dec. 1.

The National Association of Federal Credit Unions (NAFCU) is the only national trade association focusing exclusively on federal issues affecting the nation's federally-insured credit unions. NAFCU membership is direct and provides credit unions with the best in federal advocacy,education,and compliance assistance. For more information on NAFCU, go towww.nafcu.orgor @NAFCU on Twitter.

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Patty Briotta
Director of Public Relations
Office:703-842-2820
pbriotta@nafcu.org

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