CFPB: Employers Must Offer Payroll Card Alternatives

By  |  September 13, 2013
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The Consumer Financial Protection Bureau (CFPB) issued a statement on September 12 that indicated employers who do not provide employees with an alternative to prepaid payroll cards are in violation of federal law, The Wall Street Journal reported.

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    “Employees must have options when it comes to how they receive their wages,” CFPB director, Richard Cordray, said in a statement.

    The move came in response to growing sentiment that these debit cards carried high fees. For more on the developing story and how it will affect U.S. employers, click here. 

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