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Banks Direct Deposit

DailyPay, Inc.

Earned Wage Access & the American Overdraft Fee Crisis

DailyPay, Inc. on

You know we have a serious economic justice problem in this country when the poorest Americans are paying $8 billion in overdraft fees in $35 increments to the nation’s largest banks. But that’s exactly what happened in 2020...more

Vedder Price

Pay Day Lending: Here Come the Banks!

Vedder Price on

In a recent interview, Comptroller of the Currency Joseph Otting, announced the OCC’s plan to “clarify” its support of bank-offered deposit advance products. “Deposit advance products” are typically defined as small-dollar,...more

Proskauer - Law and the Workplace

New York Regulations on Wage Payment Methods Declared Invalid

As we previously reported, on September 7, 2016, the New York State Department of Labor (“NYSDOL”) published final regulations on the methods by which employees must be paid, including with respect to direct deposit of wages...more

Seyfarth Shaw LLP

New York Industrial Board of Appeals Rescinds Payroll Debit Card and Direct Deposit Regulations

Seyfarth Shaw LLP on

Seyfarth Synopsis: Regulations that would have restricted New York employers’ ability to pay employees via payroll debit cards have been struck down by an administrative review tribunal within the State Department of Labor....more

Jackson Lewis P.C.

New York State Regulations Governing Payroll Debit Cards (Scheduled to Become Effective March 7) Held Invalid and Revoked

Jackson Lewis P.C. on

The NYSDOL issued final regulations in September 2016, significantly restricting the use of payroll debit cards and imposing disclosure and consent requirements for direct deposit. The regulations were to become effective on...more

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