On April 18, 2017, President Trump signed the Buy American and
Hire American (BAHA) Presidential Executive Order. The mandate is
designed to create higher wages and employment rates for U.S.
workers by administering and enforcing federal immigration laws.
BAHA directs those federal agencies responsible to propose new
rules and new guidance.
Of the temporary work visas available, President Trump singled
out the H-1B visa category as ripe for reform to ensure H-1B visas
are awarded to the most skilled or highest paid foreign workers,
and to prevent fraud and abuse. But is such reform needed, and why
should financial institutions care?
The H-1B visa category is reserved for those foreign national
workers filling specialty occupations. Specialty occupations are
defined as those minimally requiring a bachelor's degree.
Employers sponsoring H-1B workers are obligated to pay and treat
them as they would U.S. workers or face stiff penalties and
debarment from participating
