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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
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
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
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
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