Payactiv is the unquestioned compliance gold standard in earned wage access (EWA). On December 30, 2020, Payactiv became the only EWA provider to receive a formal Approval Order from the Consumer Financial Protection Bureau (CFPB) confirming that its EWA program is a non-credit product exempt from the federal Truth in Lending Act (TILA) and Regulation Z lending requirements.
The CFPB’s Approval Order only applies to Payactiv—and Payactiv is the only EWA provider to have achieved such an order. In its Approval Order to Payactiv, the CFPB makes several key findings supporting its conclusion that Payactiv’s EWA Programs do not involve credit:
Please note that the CFPB Approval Order relates only to Payactiv’s Payroll Deduction EWA Programs and not to all Payactiv products or services. The Approval Order is a public document, and may be reviewed here.