The Consumer Financial Protection Bureau (CFPB) recently proposed a new interpretive rule on earned wage access (EWA) products, reversing dramatically from their previous position in 2020 when the CFPB issued an advisory opinion stating that EWA products did not constitute “credit” under the Truth in Lending Act (TILA).
Delve into the potential financial challenges facing low and moderate-income employees and the implications stemming from the CFPB’s interpretation with PayrollOrg’s webinar, “Redefining Earned Wage Access: Navigating the CFPB’s Proposed Regulatory Shifts,” on October 29 at 1:00 p.m. ET.
Sponsored by rapid!, this free webinar for members will explain the CFPB’s new interpretive rule, which expands the scope of what constitutes credit. The webinar will also explore the following topics:
- The implications of the CFPB’s reversal from its 2020 advisory opinion
- How the proposed rule redefines “credit” under the TILA and the potential ramifications for the EWA industry
- The controversial classification of optional tips and expedited funds fees as financial charges
- The broader impact on EWA providers, employers, and the future landscape of payroll data access
Register for this free webinar for members today to reserve your space.
Felicia DeInnocentiis is Writer and Editor of Membership Publications for PayrollOrg.
