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News • 4 months ago

CFPB cracks down on popular paycheck advance programs. Here's what that means for workers

cross-posted to:
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CFPB cracks down on popular paycheck advance programs. Here's what that means for workers

@return2ozma to

News • 4 months ago

cross-posted to:
[email protected]

The watchdog proposed a rule that would label earned wage access programs as loans. Fees would need to be expressed in APR terms, like a credit card.

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@Viking_Hippie
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6•4 months ago
This is just the infamous Payday loans crappily disguised to escape existing rules and regulations, isn’t it? 😮‍💨🤬

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