Would you in the US be informed that you are getting paid $20/hr but it stops at 8 hours? There is a reason that the US has laws about the minimum that people can get paid on a salary.
There is no federal law in the US about that. California has such a law, but it requires being reported to be enforced, and as such, is not very often enforced.
The Fair Labor Standards Act.
https://www.lexology.com/library/detail.aspx?g=0bd0fa78-f456...
Someone else here can speak to whether the exemption rate minimum was officially raised from the old $455 per week (the DOL was attempting to increase it). You legally must be paid at least the minimum wage unless you're exempt, and then the minimum weekly pay is in force. The only exclusions are for tip workers, certain types of farm labor, and certain types of seasonal temporary employment.
The DOL also recently increased its penalties for non-compliance:
https://www.fisherphillips.com/Wage-and-Hour-Laws/flsa-penal...
However, from what I understand, the amount outlined in that law has not changed from when it originally was written. So it is laughably low, to the point where it doesn't really help. I guess it's more than the hourly minimum wage, though?