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.

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