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Payactiv Becomes First And Only CFPB-Approved Earned Wage Access Provider

Share this article Share this article SAN JOSE, Calif., Dec. 30, 2020 /PRNewswire/ -- The Consumer Financial Protection Bureau today issued a groundbreaking approval order (Approval) confirming that Payactivs Earned Wage Access (EWA) Program is not credit and therefore is exempt from the federal Truth in Lending Act (TILA) and Regulation Z rules governing creditors.   Specifically, the Approval notes that a Payactiv EWA user does not create a debt because "the accrued cash value of an emplo...
Safwan Shah Fintech Hrtech Innovative Payments Association Consumer Champion Award Payactiv Inc Office Of Innovation Public Benefit Corporation

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