Consumer Financial Protection Bureau (CFPB), Debit Card and Junk Fees

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

Tearsheet

MARCH 27, 2024

In these partnerships, financial institutions either brand DailyPay’s EWA service as their own or refer their business clients directly to the fintech company. Alternatively, DailyPay charges a fee if employees choose to instantly send EWA wages to a card or account.

Instant Payments

Instant Payments RTP Consumer Financial Protection Bureau (CFPB) FedNow

CFPB Finalizes Rule Limiting Credit Card Late Fees

Global Fintech & Digital Assets

MARCH 8, 2024

The rule targets a statutory loophole that the CFPB asserts large credit card issuers exploited to exact excessive late fees from consumers. Conclusion The Rule is another win for the consumer financial regulator against what it calls “junk fee harvesting” in the banking and credit sectors.

CFPB

CFPB Credit Cards Rules Card Issuer

Payments Space

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

CFPB Finalizes Rule Limiting Credit Card Late Fees

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