Human Capital: FSI's Bellaire Sounds Off on DOL Withdrawal of Independent Contractor Rule

In this episode of Human Capital, we talk with David Bellaire, general counsel for the Financial Services Institute in Washington, about FSI’s lawsuit against the Labor Department for withdrawing its independent contractor rule.

FSI filed a lawsuit on May 13 against the Labor Department for withdrawing its final independent contractor rule and is now actively lobbying senators about a legislative remedy.

“I think that there is a deeply held view in the Biden administration that all workers are benefited by being employees rather than independent contractors — that the protections provided to them are greater and therefore all workers should be employees of their firms,” Bellaire said. “Our members would see that very differently. … They chose this model because they want to own their own business, they want to serve clients in the best way they could without interference.”

Listen in as Bellaire talks about the lawsuit’s timing and how withdrawal of the rule is affecting firms, as well as why FSI worries that Labor and the Biden administration may pursue a more stringent independent contractor standard.