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On March 11, 2021, President Biden signed the American Rescue Plan Act of 2021 (ARPA), which subsidizes fully paid post-employment healthcare coverage under the Consolidated Omnibus.
Updated on May 6, 2021 at 8:34 pm
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After Congress passed the latest stimulus package, Shawna Stiles of North Richland Hills learned the government would pick up the cost of health insurance premiums for six months.
It was welcome news because her husband lost his job in February and Stiles said the family faced paying more than $1,500 per month to continue their health insurance coverage through COBRA.
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“Who can afford to do that? First of all, unemployment is not enough even with the extras. It s not really enough for most families,” said Stiles.
REGULATORY DEVELOPMENTS
OCC GRANTS A NATIONAL TRUST BANK CHARTER TO ANOTHER CRYPTOCURRENCY FIRM
On April 23, the OCC granted preliminary conditional approval to Paxos, the third cryptocurrency firm that has obtained approval to charter a national trust bank. A national trust bank is a type of nondepository national bank whose activities are limited to fiduciary ones. They are appealing to cryptocurrency firms since FDIC insurance is not required, and because the federal charter preempts various state laws with which state-chartered trust banks or trust companies must grapple. Paxos’ application indicated that it would: engage in custody services; act as a payment, exchange or other agent; provide KYC as a service; provide custody and management of USD stablecoin reserves; and offer other cryptocurrency services. This chartering action follows on, and cites to, an OCC interpretive letter issued earlier this year permitting national trust banks to engage in activities permissible f
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It’s hard to keep up with all the recent changes to labor and employment law. While the law always seems to evolve at a rapid pace, there have been an unprecedented number of changes for the past few years and this past month was no exception.
In fact, there were so many significant developments taking place during the past month that we were once again forced to expand our monthly summary well beyond the typical “Top 10” list. In order to make sure that you stay on top of the latest changes, here is a quick review of the Top 16 stories from last month that all employers need to know about: