On January 18, acting CFPB General Counsel Seth Frotman sent a letter to three representatives of consumer advocacy groups addressing the CFPB’s November 2020 advisory opinion on earned.
On January 18, acting CFPB General Counsel Seth Frotman sent a letter to three representatives of consumer advocacy groups addressing the CFPB’s November 2020 advisory opinion on earned wage access products.
The advisory opinion concluded that this particular EWA program does not involve the offering or extension of "credit" within the scope of Regulation Z.
In a letter to three representatives of consumer advocacy groups, CFPB Acting General Counsel Seth Frotman indicated that due to “repeated reports of confusion” caused by the CFPB’s.