The CFPB has given an approval order through its Compliance Assistance Sandbox Policy (CAS Policy) to Payactiv associated with its earned wage access (EWA) system.
The approval purchase confirms that PayactivвЂ™s EWA program described into the purchase will not include the providing or expansion of вЂњcreditвЂќ as defined by section 1026.2(a)(14) of Regulation Z, вЂ¦
CFPB to reconsider payday loan rule that is final
The CFPB announced today so it promises to participate in a rulemaking process to reconsider, pursuant towards the Administrative Procedure Act, its last guideline on Payday, car Title, and Certain High-Cost Installment Loans (the RuleвЂќ that isвЂњPayday). The statement completely accords with your expectation that the Payday Rule will not begin to see the light of time in вЂ¦
CFPB dilemmas compliance bulletin on preauthorized electronic repayments
The CFPB has released a conformity bulletin (Bulletin 2015-06) regarding the Electronic Fund Transfer Act (EFTA) and Regulation E needs for receiving a consumerвЂ™s authorization for preauthorized electronic investment transfers (EFT) and also the CFPBвЂ™s conformity objectives.