Let me make it clear about CFPB problems Advisory Opinion on Earned Wage Access products

Let me make it clear about CFPB problems Advisory Opinion on Earned Wage Access products

CFPB issued an opinion that is advisory Earned Wage Access (EWA) on Monday afternoon. We have discussed made wage access services and products before along with state legislative initiatives to manage them. The newest federal guidance mainly addresses the question of if/when an EWA system is included in the reality in Lending Act (TILA) and Regulation Z. It concludes that EWA programs that meet specific demands aren’t an expansion of credit and generally are maybe maybe maybe perhaps not susceptible to TILA or Reg. Continue reading “Let me make it clear about CFPB problems Advisory Opinion on Earned Wage Access products”