Employment Law This Week®: ACA Marketplace Notices, Payroll Card Regulations, Medical Marijuana, Uber’s Arbitration Agreements
Last week, the CFPB issued its long-awaited final rule amending Regulation E (Electronic Funds Transfer Act) and Regulation Z (Truth in Lending Act) to create regulations for prepaid financial products (Prepaid Rule). The...more
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
In my last blog post, “To Fee or Not to Fee—The Pros and Cons of Payroll Cards,” I discussed the growing popularity of payroll cards and several U.S. senators’ plea for guidance on this burgeoning pay practice. Perhaps in...more
With the growing popularity of payroll cards, employers that utilize them, or are considering implementing them in the future, must be aware of the potential benefits and risks involved. Employers in virtually every...more
The CFPB issued a guidance bulletin warning employers of the prohibition on requiring employees to use payroll cards. Payroll cards are regulated by the Electronic Fund Transfer Act and its implementing regulation, Regulation...more
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
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
Last week, 16 Democratic Senators sent a letter on regulation of payroll cards to Consumer Financial Protection Bureau (“CFPB”) Director Richard Cordray and Department of Labor (“DOL”) Acting Secretary Seth Harris. The letter...more