Agreements, Junk Fees and Rules

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Agreements

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CFPB Proposes Interpretive Rule to Ensure Workers Know the Costs and Fees of Paycheck Advance Products

Fintech Finance

JULY 19, 2024

The Consumer Financial Protection Bureau (CFPB) has proposed an interpretive rule explaining that many paycheck advance products, sometimes marketed as “earned wage” products, are consumer loans subject to the Truth in Lending Act. When the paycheck advance product is no-fee and truly free to the employee, many requirements would not apply.

CFPB

CFPB Rules Product Consumer Financial Protection Bureau (CFPB)

The shifting EWA regulatory framework and its impact on bank partnerships and instant payment adoption

Tearsheet

MARCH 27, 2024

Alternatively, DailyPay charges a fee if employees choose to instantly send EWA wages to a card or account. Whether this fee is covered by the employer or the employee depends on the agreement.

Instant Payments

Instant Payments RTP Consumer Financial Protection Bureau (CFPB) FedNow

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Payments Space

CFPB Proposes Interpretive Rule to Ensure Workers Know the Costs and Fees of Paycheck Advance Products

The shifting EWA regulatory framework and its impact on bank partnerships and instant payment adoption

Webinars

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