Dorsey Partner Erin Bryan and Associate Courina Yulisa co-authored an article looking at the CFPB’s earned wage access rule and the regulatory shift that comes with it.
"The earned wage access industry finds itself on the receiving end of major federal regulatory pressure for the first time in the approximately 15 years of the industry's existence," write Erin and Courina. "The pressure came in the form of a proposed Consumer Financial Protection Bureau interpretive rule, released on July 18."
Within the article, Erin and Courina highlight key insights into the CFPB’s view of the products as extensions of credit and marks a significant shift in the regulatory landscape for earned wage access products.
Read the full article published by Law360.