Earned Wage Access: A Popular Payroll Perk, an Employer's Liability

Joseph J. Schuster, a member of Ballard Spahr's Consumer Financial Services Group, spoke with Corporate Compliance Insights about recent changes in earned wage access (EWA) regulation.

The Consumer Financial Protection Bureau has reversed federal guidance on EWA three times in the last five years, and many states have written their own rules.

"These are very simple products in terms of how they are offered but very complicated products with respect to the regulatory landscape," Joseph said. "In some senses, it provides more clarity on the requirements with respect to EWA products. In other respects, it creates more compliance challenges with respect to these products."

Read the full article here. (Subscription may be required.)