FAQ On Section 13 Funding Under EAWA

These FAQs from the Federal Reserve provide guidance on how the EAWA applies to recipients of funding under section 13 of the Federal Reserve Act.

Under the Employ American Workers Act (EAWA), part of the American Recovery and Reinvestment Act of 2009 (the "Stimulus Bill") effective February  17, 2009, banks and other companies that receive TARP (Troubled Asset Relief Program) money or credit directly from the Federal Reserve System under section 13 of the Federal Reserve Act (referred to as "covered funding") must make "H-1B Dependent Employer" attestations on the  Labor Condition Applications (LCAs) they file in support of H-1B petitions for newly hired H-1B employees. See NAFSA's EAWA Practice Advisory for details.