Regulatory Rollback: Legal Challenges and Opportunities in Earned-Wage Access

Episode notes

In this special joint episode of The Consumer Finance Podcast and Payments Pros , Chris Willis, co-leader of Troutman Pepper Locke's Consumer Financial Services Regulatory Practice, is joined by Keith Barnett and Jason Cover from the Payments Pros podcast, along with Troutman Pepper Locke Consumer Financial Services Partner Mark Furletti. They discuss the future of earned-wage access (EWA) products following the Consumer Financial Protection Bureau's (CFPB) rescission of previous guidance. The conversation explores the history and evolution of EWA products, initially designed as employer-based solutions to provide employees early access to earned wages without extending credit. The group highlights regulatory challenges, including the CFPB's changing stance and the impact of state laws on EWA offerings. They examine how these products are structured to avoid being classified as credit, focusing on optional fees and the absence of repayment obligations. The discussion also addresses the legal landscape, noting potential state-level regulatory landmines and private litigation.

Related episodes across the Index

Other episodes covering the same guests and topics, from across The B2B Podcast Index.

• Trust, stablecoins, and the AI margin squeeze:What McKinsey and QED's fintech report means for banksTearsheet Podcast: Exploring Financial Services Together · on fintech89 / 100
• Why Vienna Could Become Europe’s Next Startup Hub. Markus Raunig | Ep. 005Hospitality x Disruption: HXD212 · on fintech81 / 100
• Jamie Funfinergi, Co-founder & GP of Nazca VCVenture Passport · on fintech81 / 100
• The Future of Data Teams in the AI Era: Insights from Alex Welch, dbt Labs' Head of Data and AnalyticsData Hurdles · on fintech80 / 100
• Episode 46 - from Tashkent to Termsheet with Victor OrlovskyThe GoingVC Podcast · on fintech77 / 100
• S4e02 Unrelenting Curiosity with Tiger TyagarajanThe Mindful Leadership Podcast with Shahana Banerjee · on Financial services77 / 100

• Payments Compliance and the FTC's Focus on Subscription Practices69 / 100
• Regulating Prediction Markets: Federal Oversight, State Authority, and the Road Ahead66 / 100
• The Debanking Debate: Regulators, Risk, and Reality for Payments72 / 100
• Point-of-Sale Finance Series: Evolving Collection Rules Impacting Creditors65 / 100
• Point-of-Sale Finance Series: Fair Lending Risks at the Checkout Counter