On March 21, Wisconsin enacted into law Assembly Bill 574, positioning it as the third state, following Nevada and Missouri, to establish a comprehensive regulatory framework for earned wages access (EWA) services and products. The legislation is set to take effect September 1, 2024.
Continue Reading Wisconsin Signs Earned Wage Access Bill into Law
In March, U.S. Department of Treasury issued its annual General Explanations of the Administration’s Revenue Proposals, commonly known as the “Green Book.” Among other revenue proposals, the Treasury addressed the treatment of on-demand pay arrangements or earned wage access (EWA) programs, which have risen in popularity in recent years (previously discussed in our Labor and Employment Blog). EWA programs generally allow employees to access accrued wages before the end of their regular pay cycle. Continue Reading Treasury Department Proposes Non-Loan Status for Earned Wage Access
On January 18, acting CFPB General Counsel Seth Frotman sent a letter to three representatives of consumer advocacy groups addressing the CFPB’s November 2020 advisory opinion on earned wage access (EWA) products. The letter responded to concerns that the advisory opinion was being used as justification by the proponents of a pending New Jersey law that would allow third-party EWA providers to charge fees or permit “tips” for their products without having to abide by the state’s 30% usury cap. Continue Reading CFPB Addresses “Confusion” Over Earned Wage Access Program
On September 8, 2025, the U.S. District Court for the Western District of Washington denied an earned wage access provider’s motion to dismiss a putative class action brought by a servicemember. The plaintiff alleged that the company’s cash advance product violated the Military Lending Act (MLA) and the Truth in Lending Act (TILA).
Continue Reading District Court Allows Class Action Claims Against EWA Provider to Proceed Under TILA and MLA
On June 9, 2025, New York City Comptroller Brad Lander released a report urging City and State leaders to modernize consumer financial protections. The report outlines a series of legislative and regulatory recommendations aimed at closing gaps in existing protections and addressing emerging risks in the consumer financial marketplace.
Continue Reading NYC Comptroller Report Calls for Overhaul of State Consumer Financial Protections
On May 12, the CFPB formally withdrew nearly 70 guidance materials—including policy statements, advisory opinions, circulars, and interpretive rules—through a Federal Register notice issued by Acting Director Russell Vought. The move stems from an internal memo circulated last month to identify guidance that allegedly imposed unlawful compliance burdens or exceeded statutory authority.
Continue Reading CFPB Withdraws Dozens of Guidance Documents as Part of Deregulatory Push
Starting in February 2025, providers of (1) debt settlement services, (2) student debt relief services, (3) private postsecondary education financing, and (4) income-based advances (a/k/a earned wage access (EWA) products) must begin registering and conform to annual reporting requirements in order to operate in California. We previously discussed this rule here.
Continue Reading California DFPI Poised to Fill Potential Regulatory Gap Amid Anticipated CFPB Leadership Shift
On October 22, the California DFPI announced the state’s approval of registration regulations enacted under the CCFPL, which will require providers of (1) debt settlement services, (2) education financing, (3) income-based advances (including earned wage access products), and (4) student debt relief services to register with the state and comply with data submission requirements. Financial service providers covered by the new regulations must file an application to register by February 15, 2025, to continue operating legally in the state.
Continue Reading California DFPI Rolls Out Registration Requirements for Debt Settlement, EWA, and Student Loan Relief Providers
On August 13, the CFPB announced an advisory opinion on the applicability of the Truth in Lending Act (TILA) and Regulation Z to “contracts for deed.” A contract for deed is an arrangement in which a consumer purchases a home from a seller subject to the purchaser paying for the home over time. The purchaser moves into the home and assumes responsibility for taxes, insurance, home maintenance and repairs, but does not take title to the home until all payments due are made to the seller. The arrangement is also known by other names, such as “land sales contract,” “land installment contract,” and “agreement for deed.” The arrangement is very similar in many respects to an installment sales contract for the purchase of goods.
Continue Reading CFPB Announces Advisory Opinion on Applicability of TILA and Regulation Z To Contracts for Deed
On August 12, the National Consumer Law Center (NCLC), a prominent consumer advocacy group, petitioned the CFPB to open rulemaking under the Equal Credit Opportunity Act (ECOA) to expand the definition of “credit” to include housing and apartment rental leases, and “creditors” to include landlords. While acknowledging that landlords are already banned from discriminating against prospective tenants under the federal Fair Housing Act, the petition aims to secure two additional protections.
Continue Reading Advocacy Group Petitions CFPB to Categorize Housing Rental Leases as “Credit”