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Wages FinTech Consumer Financial Products

Ballard Spahr LLP

Maryland enacts Earned Wage Access legislation

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A new Maryland law deems certain earned wage access (EWA) services to be loans. It then subjects those EWA services to the Maryland Consumer Loan Law and other consumer credit provisions, restricts the acceptance of tips by...more

Troutman Pepper Locke

EWA Provider Sues New York Attorney General Over Threatened Enforcement Action

Troutman Pepper Locke on

On April 7, DailyPay, LLC, an employer-integrated earned wage access (EWA) provider, filed a lawsuit against New York Attorney General Letitia James, seeking declaratory relief to prevent the enforcement of state and federal...more

Goodwin

2023 Year in Review: Fintech

Goodwin on

Welcome to the Fintech chapter of our annual report Consumer Financial Services 2023 Year in Review. Looking Ahead to 2024 - The CFPB is expected to finalize rulemaking authorizing supervision of payment application...more

Ballard Spahr LLP

Fintech trade group sends letter to Director Chopra urging CFPB to develop regulatory approach for earned wage access products

Ballard Spahr LLP on

The American Fintech Council (AFC), a trade group whose members include providers of earned wage access (EWA) products, has sent a letter to Director Chopra urging the CFPB to take steps towards development of a “pragmatic...more

Hudson Cook, LLP

CFPB Bites of the Month - 2023 Annual Review - Fintech

Hudson Cook, LLP on

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

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