NY Regulators Investigate Payroll Cards

Eric Schneiderman, New York's attorney general who recently settled the state's case against consulting firm Deloitte, is investigating how large employers in the state use payroll cards, The New York Times reports.

Schneiderman has sent letters to roughly 20 employers, which include household brands like McDonald's, Walgreens and Walmart. Some consumers have taken issue with the cards for the fees they can generate, which can range from 50 cents for a balance inquiry to more than $2 to use an out-of-network ATM.

Reuters reached out to these companies, but did not receive a comment on the developing story.

Read the full report from the Times here.

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