Event Details

We will delve into the financial challenges faced by low to moderate-income employees and examine the potential impact of the Consumer Financial Protection Bureau's (CFPB) proposed interpretive rule on earned wage access (EWA) products.

This proposed rule represents a dramatic shift from the CFPB's previous position in 2020, when the Bureau issued an advisory opinion stating that EWA products did not constitute "credit" under the Truth in Lending Act (TILA), provided certain conditions were met. The new interpretive rule, however, expands the scope of what constitutes credit, potentially classifying EWA products as consumer credit subject to more stringent regulatory oversight.

During this webinar, you will explore:

• 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 finance charges
• The broader impact on EWA providers, employees, and the future landscape of payroll data access

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Credit Information

Earn 1.0 Recertification Credit Hours (RCHs) or 0.10 Continuing Education Units (CEUs) when attending this webinar. CPE credits are not available for webinars on demand.