March 2024

United States National Labor Relations Board (NLRB)

Employers in the United States received a significant win on March 8, 2024, when a federal court in Texas struck down the National Labor Relations Board’s (“Board”) expansive new “joint employer” rule, and upheld the existing (and more employer-friendly) 2020 rule. This rule would have expanded the circumstances under which two businesses could be designated as “joint employers,” and that could have significantly altered the legal landscape attendant to various workplace relationships.

Historically, the banking and finance industry has operated without much union interference. However, under the current guidance of Jennifer Abruzzo, General Counsel of the National Labor Relations Board (“Board”), the tides are turning toward unionization in sectors previously not considered ripe for union organizing, including banking and finance.