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News@lemmy.world · 4 months ago

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

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personalfinance@lemmy.ml

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

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News@lemmy.world · 4 months ago

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cross-posted to:
personalfinance@lemmy.ml

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@lemmy.world
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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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