News & Analysis as of

Payroll Cards Compliance

Sheppard Mullin Richter & Hampton LLP

New York State Department of Labor Published Proposed Rules Regarding Non-Exempt Employees Paid by Debit Card

On May 27, 2015, the New York State Department Of Labor (“NYSDOL”) published proposed rules addressing the payment of wages by payroll debit cards. Pursuant to the draft regulations, prior to paying an employee by payroll...more

Franczek P.C.

Illinois Becomes Latest State to Crack Down on Pay Card Abuses

Franczek P.C. on

Last week, Illinois Governor Pat Quinn signed House Bill 5622, which amended the Illinois Wage Payment and Collection Act (IWPCA) to explicitly provide employers with the option of paying employees through a payroll card, but...more

Holland & Knight LLP

Use of Payroll Cards in Illinois to Come Under Increased Statutory Scrutiny: Gov. Quinn Signs New Amendments into Law on Aug. 6,...

Holland & Knight LLP on

Effective Jan. 1, 2015, employers in Illinois will have to follow new requirements in order to pay wages using payroll cards. The Illinois Wage Payment and Collection Act (IWPCA) currently provides for wage payment by check...more

Baker Donelson

Financial Institutions and Employers Cannot Mandate that Wages be Deposited to Payroll Card Accounts

Baker Donelson on

Payroll card accounts have many benefits. The cards are a helpful option for employees who do not have checking accounts, and many banks have offered financial incentives to employers who choose their institution's card to...more

Foley & Lardner LLP

Potential Problems With Payroll Cards

Foley & Lardner LLP on

For several years now, the use of payroll cards has been an emerging trend as a mechanism for paying employees their wages. A payroll card is a payment method that allows employers to pay wages to their employees via a...more

Katten Muchin Rosenman LLP

CFPB Bulletin Warns Employers Against Exclusive Use of Payroll Cards

On September 12, the Consumer Financial Protection Bureau (CFPB) published a bulletin reminding employers that they cannot require their employees to receive wages on a payroll card. The bulletin also explains some of the...more

Ballard Spahr LLP

CFPB Warns Employers on Required Use of Payroll Cards

Ballard Spahr LLP on

The Consumer Financial Protection Bureau has issued a bulletin warning employers that they cannot require employees to receive their wages on payroll cards. The bulletin appears to respond to the explosive growth in the use...more

Fisher Phillips

CFPB Bulletin Addresses "Payroll Card Accounts"

Fisher Phillips on

A statement of some federal-law limitations and requirements relating to the increasingly popular practice of compensating employees via the use of "pay cards" came from an atypical direction on September 12....more

Ballard Spahr LLP

Democratic Senators write to CFPB about employer use of payroll cards

Ballard Spahr LLP on

A New York Times report last month that the office of New York Attorney General Eric Schneiderman has commenced an investigation into the widening practice of employers paying hourly employees through the use of prepaid...more

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