CFPB Warns Employers About Payroll Card Abuse
Earlier this summer, we reported on a new trend—especially prevalent in low-wage industries—where more and more workers aren’t getting paper paychecks or direct deposits to their checking accounts, but instead are finding their wages on prepaid cards. The Consumer Financial Protection Bureau (CFPB) warned employers yesterday about the misuse of prepaid payroll cards and that they cannot require workers receive their wages via prepaid cards.
