Unraveling the Legal Threads: A Deep Dive Into Earned Wage Access - Payments Pros: The Payments Law Podcast
In this article, we share a timeline of our monthly "bites" for 2023 applicable to the small dollar lending, lease-to-own, and alternative financial services industries. ...more
In this article, we share a timeline of our monthly "bites" for 2023 applicable to fintech. The Consumer Financial Protection Bureau (CFPB) and its director, Rohit Chopra, continued the agency's focus on the everyday consumer...more
The performers’ union SAG-AFTRA has finally reached agreement with the AMPTP, the studios’ bargaining group, after a lengthy strike. The union is touting what it says are breakthroughs in many areas. The new provisions are...more
In the latest episode of Payments Pros, hosts Keith Barnett, Josh McBeain, and Carlin McCrory discuss Earned Wage Access (EWA), a system that allows employees to receive their earned wages before the employer's payroll cycle....more
Q: We had a payroll issue and accidentally overpaid an employee quite a bit. Can we simply withhold from their future paychecks?...more
CA DFPI Issues Interpretive Opinion on Earned Wage Access - On February 11, 2022, the California Department of Financial Protection and Innovation (DFPI) issued an interpretive opinion letter that FlexWage, a New...more
The legal uncertainties that surround wage advance products continue to boil and bubble. We’ve previously written about legal issues these products raise, the New York Department of Financial Services (“NYDFS”) investigation...more
A hot topic of discussion in payroll offices around the country is the prospect of new services that provide workers with immediate access to their wages for hours they have worked but which aren’t due to be paid until after...more
On April 26, 2019, the Third Circuit Court of Appeals reversed in part and affirmed in part a district court order purporting to void cash advance agreements entered into by and between class members and litigation funding...more
The CFPB filed its first new lawsuit under acting Director Mulvaney yesterday, alleging that a pension advance company and its president made predatory loans to consumers that were falsely marketed as asset purchases. ...more
Hurricane Harvey has caused massive damage and displacement of individuals in southeast Texas. For employees who have been unable to work during the past week, and for those who may not be able to return to work in the near...more
On November 6, 2015, amendments to the New York Labor Law (NYLL) that expanded permitted deductions from wages for overpayments and advances against wages, among other items, will expire. In 2012, New York expanded the...more
As we previously posted, last year New York amended New York Labor Law §193 (“NYLL”) to expand the scope of permissible deductions an employer may make from an employee’s paycheck. Even though the amendments became effective...more
Most employers tend to focus on federal law as a source of labor and employment obligations. However, employers should also pay careful attention to state and local laws on workplace issues. The first half of this month has...more
The New York State Department of Labor ("DOL") has adopted wage deduction regulations ("Final Regulations") pertaining to the expanded categories of permissible wage deductions in the New York Labor Law, effective October 9,...more
As we detailed in a previous blog post, in September 2012, Governor Cuomo signed into law new legislation which permits employers to make additional deductions from employees’ paychecks. Among other things, the bill amended...more