The CFA VOICE is the monthly newsletter for Coalition of Franchisee Associations member franchisees. Representing OVER 46,000 franchisees owning over 118,000 franchises and employing over 2.6 million people, CFA is the Voice of the Franchisee.

CFA IN THE NEWS

Last week, the U.S. Department of Labor (DOL) issued a Notice of Proposed Rulemaking (NPRM) under which salaried employees earning up to $55,068 a year will get overtime pay when working over 40 hours a week. This is a nearly 55% increase from the current overtime threshold of $35,568 per year. Additionally, the NPRM includes an automatic escalator provision that will increase the salary threshold every three years – regardless of the fiscal climate (although DOL reserves the option to suspend the increase for economic reasons). Fortunately, DOL did not change the “standard duties test” to classify exempted administrative and executive positions. If finalized in its current form, it would mean that 3 million workers would be newly eligible for overtime pay when they work more than 40 hours a week.

POLITICAL AND GOVERNMENT NEWS

Is Franchising Fair? All Sides Weigh in as FTC Considers Rule Changes

The Federal Trade Commission is considering new rules aimed at enhancing fairness within the franchisor-franchisee relationship, and the commission’s recent request for comment shows a wide discrepancy in viewpoints on the topic.

Read more: Franchise Times

Credit Card Companies Urged by Senators to Cancel Plan to Raise Swipe Fees

Senators are urging credit card giants Visa Inc. and Mastercard Inc. to cancel plans to raise their swipe fees charged to retailers and used reports on the plans to champion their bill to force competition in the industry.

Read more: The Washington Post

Inflation Worries Decline, According to Fed’s Survey of Consumer Expectations

Inflation expectations declined across short-, medium-, and long-term horizons. They fell from 3.8% to 3.5% at the one-year-ahead horizon and from 3.0% to 2.9% at both the three-year and five-year-ahead horizons.

Read more: Financial Regulation News

SBA Changes Improve Access to Capital for Small Businesses

The U.S. Small Business Administration (SBA) recently announced changes designed to increase access to capital by modernizing SBA’s signature 7(a) and 504 loan programs. The improvements will increase small businesses’ ability to access funding to start up and grow through a broader network of lenders with streamlined lender procedures.

Read more: Franchising.com

BUSINESS SMARTS

Turning the Ship Around: A Guide to Changing Workplace Culture

If your company endures high employee turnover, low productivity and many complaints from employees and customers, you may need to change your workplace culture. Company culture is an unwritten, underlying “the way we do things around here” attitude. It becomes ingrained in employee behavior and is quickly communicated to new hires, making it challenging to change.

Read more: Business.com

How to Kickstart Learning in Your Business Again

Issues like leadership losing sight of the need to learn, having limited resources or not knowing where to begin can all lead to being stuck with old ideas and mindsets. A lack of learning and growth doesn’t just happen because you get busy. Sometimes, businesses develop mindsets that are resistant to change.

Read more: Forbes