Related insights: Payment Services
CFPB Issues Advisory Opinion on Earned Wage Access Programs
Dec 01 2020
CFPB recently issued an advisory opinion on Earned Wage Access (EWA), which primarily addresses the question of if/when an EWA program is covered by the Truth in Lending Act (TILA) and Regulation Z.
It's a Jersey Thing: Earned Wage Access Bill Gets Amended
Oct 27 2020
California, New York and New Jersey all have earned wage access (EWA) legislation pending, although nothing much has happened with these bills for months. Last week, however, a New Jersey Assembly committee amended one of these bills, AB 3450, and sent it to the floor for further consideration.
PayPal Sues the CFPB Over the Prepaid Account Rule
Dec 13 2019
On Wednesday, PayPal sued the CFPB in federal district court in the District of Columbia claiming the Bureau's Prepaid Account Rule (“Rule”) is arbitrary and capricious and was issued in violation of the Administrative Procedures Act. The complaint also asserts that the Rule violates PayPal's First Amendment rights by forcing it to deliver irrelevant and misleading information to consumers.
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