The Consumer Financial Protection Bureau is set to release guidance stating that some products offering workers early access to their pay aren’t subject to loan disclosure rules.
The CFPB’s soon-to-be-released advisory opinion on earned-wage access is expected to largely restate a 2020 guidance document issued during the first Trump administration, according to multiple people familiar with the matter who requested anonymity to discuss conversations with the agency.
Earned-wage access products allow customers to take out a portion of their paychecks prior to payday. The financial technology products come in a few varieties, including some offered in partnership with employers such ...
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