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Ballard Spahr LLP

South Carolina Enacts Earned Wage Access Legislation Requiring Registration, Exempting the Product from Lending Laws

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On May 21, 2024, South Carolina Governor Henry McMaster signed into law the Earned Wage Access Services Act (the “Act”), which will require earned wage access (“EWA”) providers to register annually with the state’s Department...more

Troutman Pepper

CFPB Issues Letter Supporting California DFPI’s Proposed Classification of EWAs as Loans and Promises Guidance as to Federal...

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In March 2023, the California Department of Financial Protection and Innovation (DFPI) proposed new regulations under the California Financing Law that would update the definition of loan to include what it dubs as...more

Troutman Pepper

Nevada Passes Law Creating Licensing Requirements for Earned Wage Access Providers

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On June 15, Nevada Governor Joe Lombardo signed SB 290 into law, which imposes licensing, reporting, examination, and other substantive requirements on providers of earned wage access (EWA) products. Specifically, the...more

Seyfarth Shaw LLP

New York DOL Challenges Rescindment of Payroll Debit Card and Direct Deposit Regulations

Seyfarth Shaw LLP on

Seyfarth Synopsis: The New York Department of Labor has mounted a challenge to the successful appeal of its promulgated regulations governing payment to employees via payroll debit cards and direct deposit. The regulations...more

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