Credit Union, Debit Card and Junk Fees

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

Tearsheet

MARCH 27, 2024

Workers have the option to receive EWA funds at no cost within 1-3 days via ACH, or they can opt to have their direct deposit sent to a reloadable Visa debit card, named Friday by DailyPay. 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

According to the CFPB, the benefits to consumers in adopting this provision would “not outweigh considerations of card issuers’ ability to recoup their pre-charge-off collection costs when they are using the $8 safe harbor threshold amount.”

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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