WEBINAR

Payactiv’s CFPB Approval

What Payactiv’s TILA Exemption Means for Innovation in Earned Wage Access

Overview

Payactiv’s CFPB Approval:
What Payactiv’s TILA Exemption Means for Innovation in Earned Wage Access

Payactiv Becomes First CFPB-Approved Earned Wage Access Provider

We are proud to announce the Consumer Financial Protection Bureau’s Approval Order recognizing Payactiv’s Earned Wage Access (EWA) Program as an important innovation and a true credit alternative for employees! In a first for the EWA industry—and for the CFPB’s Office of Innovation—the Bureau has confirmed that Payactiv’s EWA Program is exempt from federal Truth in Lending Act (TILA) and Regulation Z rules governing creditors.

Join David Reidy, Chief Legal Officer, for a discussion of Payactiv’s groundbreaking Approval Order; learn what this means for the future of EWA, and lessons for innovation in fintech.

Learning Objectives

  1. Find out how Payactiv became the first fintech company to obtain an approval from the CFPB’s Office of Innovation Compliance Assistance Sandbox
  2. Key features of Payactiv’s unique EWA model that the CFPB relied on in its Approval Order
  3. Discussion of the legal process of applying to the Compliance Assistance Sandbox for approval, and the key rulings from the Approval Order
  4. Implications for the EWA industry and a look forward to CFPB innovation in a Biden administration

Presenter

Webinar-Speaker-DavidReidy

David Reidy

David is Payactiv’s Chief Legal & Compliance Officer. Prior to joining Payactiv, he was a partner at McGuireWoods where he founded the firm’s San Francisco office and led the Silicon Valley-focused fintech practice. David is a longstanding supporter and Board member of the San Francisco Justice & Diversity Center, providing pro bono legal services and promoting diversity and inclusion in the legal profession. He has received awards and recognition from the Legal 500, National Law Journal, Law360, Bloomberg Law, Chambers & Partners, the Recorder newspaper and the San Francisco Bar Association.

Watch Now

Payactiv’s CFPB Approval:
What Payactiv’s TILA Exemption Means for Innovation in Earned Wage Access

January 19, 2021 at 12:00pm PST

Access is more than a paycheck.
It's peace of mind.

Access is more than a paycheck. It's peace of mind.

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