CFPB Issues Groundbreaking Approval 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 is specific to Payactiv and the first time the bureau has approved a financial innovation.
Exclusive to Payactiv
Payactiv is the only EWA model approved by the CFPB.
Learn More in Our E-Book
See how this Approval 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.