Thread Options
#118628 - 09/29/03 09:25 PM Walsh-Healey Act applicability to banks
Kathleen O. Blanchard Offline

10K Club
Kathleen O. Blanchard
Joined: Dec 2000
Posts: 21,277
Does this act apply to banks as a federally regulated institution? My initial take is that it applies to companies who bid on (and receive) jobs to provide services or manufacture items under federal contracts, not to banks. Can any one confirm?

_________________________
Kathleen O. Blanchard, CRCM "Kaybee"
HMDA/CRA Training/Consulting/Mapping
The HMDA Academy
www.kaybeescomplianceinsights.com

Return to Top
Human Resources
#118629 - 09/30/03 01:52 PM Re: Walsh-Healey Act applicability to banks
Bob McComas Offline
Platinum Poster
Bob McComas
Joined: Sep 2002
Posts: 570
Dallas, Texas
The Walsh-Healey Act only covers federal contractors who manufacture or furnish materials, supplies, articles or euipment to an agency of the govenment. Employers covered under the Act must compensate employee at pay rates and provide certain benefits accordingly to the Service Contract Act, which the government sets. Banks are not covered under this Act. Be thankful you are not covered by it. It is a nightmare to work with.

Return to Top
#118630 - 09/30/03 03:07 PM Re: Walsh-Healey Act applicability to banks
Kathleen O. Blanchard Offline

10K Club
Kathleen O. Blanchard
Joined: Dec 2000
Posts: 21,277
Thanks. That is what I thought after researching it. One law we can ignore!
_________________________
Kathleen O. Blanchard, CRCM "Kaybee"
HMDA/CRA Training/Consulting/Mapping
The HMDA Academy
www.kaybeescomplianceinsights.com

Return to Top
#118631 - 09/30/03 06:43 PM Re: Walsh-Healey Act applicability to banks
complyguy Offline
Gold Star
complyguy
Joined: May 2001
Posts: 494
PA
Bob - Thanks loads for the only good news I've heard today!

Return to Top
#118632 - 10/01/03 02:24 PM Re: Walsh-Healey Act applicability to banks
Bob McComas Offline
Platinum Poster
Bob McComas
Joined: Sep 2002
Posts: 570
Dallas, Texas
You may also come across the Bacon-Davis Act. This is similar to the Walsh-Healey Act except that it applies to construction companies who have contracts directly with a government agency. So you can also exclude this from your list of compliance issues.

Return to Top

Moderator:  Andy_Z, Gayla Sherry