Remove Credit Union Remove Direct Deposit Remove Junk Fees
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Thoughts on 1033 and Open Banking

Innovative Payments Association

The proposed rule would require banks, credit unions, and other financial services companies to share account and transaction data with consumers and authorized third parties. ” Most people would agree that customers should have access to their data, but the CFPB seems to believe that every fee is a “junkfee.

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

Tearsheet

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.