Federal posting requirements change for banks
The elimination of Executive Order (EO) 11246 brought a change to the federal labor law posters that banks need to display.
Before President Trump signed the “Ending Illegal Discrimination and Resorting Merit-Based Opportunity” executive order on January 21, 2025, banks and other financial institutions had to display the posters required by EO 11246. This included:
- Know Your Rights: Workplace Discrimination is Illegal, and
- The Pay Transparency Nondiscrimination provision.
Why did banks have extra posting requirements?
The extra postings were required because the Office of Federal Contract Compliance Programs (OFCCP) considered banks and other financial institutions to be a government contractor when it obtained federal deposit insurance, acted as an issuing and paying agent for U.S. savings bonds and notes, or was a federal fund depository.
As a federal contractor, a bank was required to display the Know Your Rights and Pay Transparency postings required under EO 11246.
What happens now that EO 11246 has been revoked?
Because EO 11246 has been revoked under the executive order signed in January, banks no longer need to display the postings the law required. However, they still must display the postings required under other federal laws. The Pay Transparency posting is no longer required, but the Equal Employment Opportunity Commission (EEOC) requires employers with 15 or more workers to display the Know Your Rights posting. As a result, banks with 15 or more employees still need to have the Know Your Rights posting on the wall.
In addition, a separate executive order requires banks to display the “Employee Rights Under the National Labor Relations Act” posting.
Banks also need to display required state, local, and federal postings including:
- Employee Rights Under the Fair Labor Standards Act
- Employee Rights: Employee Polygraph Protection Act
- Job Safety and Health: It’s the Law
- Your Rights Under USERRA (Uniformed Services Employment and Reemployment Rights Act)
- Know Your Rights: Workplace Discrimination is Illegal (if they have 15 or more employees)
Key to remember: Banks no longer need to display the Pay Transparency posting required under EO 11246, but must display the Know Your Rights Posting if they have 15 or more employees. They must also display other required federal, state, and local postings.