December 19, 2018

Payroll Cards: Making it Work

Payroll cards can provide a lucrative opportunity for banks to generate steady deposits and fee income, but the numerous federal and state lawsregulating these cards presents a daunting compliance challenge. Done right, payroll cards can provide a solution that benefits both employers and employees. Employers who utilize payroll cards benefit from reduced costs over paying their employees with paper checks. Employees – especially the unbanked – enjoy the convenience of receiving their pay on a prepaid debit card and avoiding the hassles and fees associated with check cashing services. This webinar navigates the challenges faced by payroll card issuers and employers when offering this valuable service.

In this webinar, we will explore:

  • Requirements for Payroll Cards under the Electronic Funds Transfer Act and Regulation E

  • Clarifications and new requirements effective in 2019 under the CFPB’s Prepaid Rule

  • Restrictions under the Fair Labor Standards Act

  • The Impact of State Wage Payment Laws

  • The status of the New York Department of Labor’s Payroll Debit Card Regulations

  • Best practices for Card Issuers and Employers

Event Location: 
Online