CFPB DECLARES CERTAIN EARNED WAGE ACCESS PROGRAMS ARE NOT CREDIT SUBJECT TO REGULATION Z

CFPB DECLARES CERTAIN EARNED WAGE ACCESS PROGRAMS ARE NOT CREDIT SUBJECT TO REGULATION Z

Recently, the Consumer Financial Protection Bureau (“CFPB”) released two opinions that clarify the types of earned wage access (“EWA”) programs that do not involve the offering or extension of “credit” regulated by Regulation Z.

On November 30, the CFPB issued an advisory opinion to resolve regulatory uncertainty regarding the applicability…Read More