Regulator Bars Employers From Requiring Pay on Debit Cards

September 18, 2013
Wall Street Journal 
credit card news
The Consumer Financial Protection Bureau (CFPB) said Thursday that employers cannot require that workers receive paychecks on debit cards, and that employees must be given other options. The cards have been lambasted by consumer advocates, New York's attorney general, and U.S. lawmakers. The CFPB said it has received reports of companies paying wages only via prepaid cards issued in tandem with banks, and that employees have complained of unexpected fees on such cards for services including using an ATM or checking the card's balance.









Abstract News © Copyright 2008-2013 INFORMATION, INC.
Powered by Information, Inc.

Stay Updated

Join the fight against predatory lending. Enter your e-mail to sign up for breaking news, action alerts, and CRL's original research.

   Please leave this field empty
  

Help Us End Predatory Lending

Predatory lending destroys family wealth, and preys on our most vulnerable communities. You can help us end abusive lending practices by donating to CRL, or by sharing our work with others.



`