Providing CFPB-compliant earned wage use of your workers

Providing CFPB-compliant earned wage use of your workers

The customer Financial Protection Bureau issued two groundbreaking notices at year-end, both involving attained wage access. These releases have actually supplied certainty that is regulatory one particular provider while potentially heightening regulatory uncertainty when it comes to other people.

The CFPB’s Advisory advice gives the after conformity requirements in purchase for an EWA provider become exempt through the Truth-in-Lending Act so your EWA product won’t be considered financing. Read more