CFPB Issues Groundbreaking Approval Order of Payactiv Earned Wage Access
Payactiv Sets the Bar for Earned
Wage Access Compliance
EWA isn’t credit
Payactiv EWA is exempt from Truth in Lending Act (TILA) and Regulation Z rules governing creditors.
The first of its kind
The Approval Order is specific to Payactiv and the first time the bureau has issued an approval for a financial innovation.
Exclusive to Payactiv
Payactiv is the only EWA model with an Approval Order from the CFPB.
Watch the On-Demand Webinar
Our Chief Legal Officer, David Reidy, discusses the Approval Order and what it means for the future of EWA.
Learn More in Our E-Book
See how this Approval Order affects the Earned Wage Access space and what Payactiv has done to get here.
The CFPB Approval Order describes the Payactiv EWA Program as an “innovative mechanism for allowing consumers to bridge the gap between paychecks;" and also covers both Payactiv’s free and fee-based EWA models.