By: Lauri F. Rasnick
At our October 2012 client briefing we discussed the new attitude of the National Labor Relations Board (“NLRB”) and the fact that non-unionized employers were not immune from the provisions of the National Labor Relations Act (“NLRA”). The NLRA has been increasingly applied in non-union workplaces. And most recently, it has found its way into the financial services industry. In a recent NLRB administrative law judge’s decision, provisions contained in a mortgage banker’s employment agreement were found violative of the NLRA. The provisions at issue are fairly typical in financial firms’ agreements – confidentiality and proprietary information and non-disparagement. These are the types of provisions commonly employed to protect a company’s valuable assets and its reputation. Our Advisory discusses the decision in depth and what it means for employers.