Taylor Gess

Minneapolis

Contributor at JD Supra

Contributor at Lexology

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Articles

Arkansas Passes Earned Wage Access Services Act | JD Supra

1 month ago | jdsupra.com | Taylor Gess |James Kim |Carlin McCrory

On March 20, the Arkansas governor signed into law Arkansas Act 347, known as the Earned Wage Access Services Act. Sponsored by Representative David Ray (R) and Senator Ben Gilmore (R), this legislation aims to regulate earned wage access (EWA) providers. Notably, “providers” is defined to include a person engaged in the business of offering earned wage access, but not an employer that advances a portion of earned wages directly to employees or independent contractors.
Utah Legislature Passes Earned Wage Access Services Act

1 month ago | openlegalblogarchive.org | James Kim |Carlin McCrory |Caleb Rosenberg |Taylor Gess

The Utah Legislature has passed H.B. 279, known as the Earned Wage Access Services Act. Sponsored by Representative A. Cory Maloy (R) and Senator Chris H. Wilson (R), this legislation aims to regulate earned wage access (EWA) providers. Notably, “providers” is defined to include a person engaged in the business of offering earned wage access, but not an employer that advances a portion of earned wages directly to employees or independent contractors.
Utah Legislature Passes Earned Wage Access Services Act | JD Supra

1 month ago | jdsupra.com | Taylor Gess |James Kim |Carlin McCrory

The Utah Legislature has passed H.B. 279, known as the Earned Wage Access Services Act. Sponsored by Representative A. Cory Maloy (R) and Senator Chris H. Wilson (R), this legislation aims to regulate earned wage access (EWA) providers. Notably, “providers” is defined to include a person engaged in the business of offering earned wage access, but not an employer that advances a portion of earned wages directly to employees or independent contractors.
Virginia’s SB 1252: Potential Impact on Banks and Fintechs

1 month ago | lexology.com | Matthew Bornfreund |James Kim |Caleb Rosenberg |Alexandra Steinberg Barrage |Christopher J. Capurso |Taylor Gess

On January 8, Senate Bill No. 1252 (SB 1252) was introduced to the Virginia General Assembly, aiming to amend and reenact sections of the Code of Virginia related to the application of usury rates. Just two weeks ago, the bill was passed by both the House and Senate. Opponents of the bill contend that the language and effect is very unclear, but that broad language and stringent provisions could stifle innovation and ultimately harm consumers by limiting their access to credit.
Alaska Proposes Amendments to Small Loan Act Targeting Banking-as-a-Service Programs | JD Supra

2 months ago | jdsupra.com | Jason Cover |Mark J. Furletti |Taylor Gess

On January 10, the Alaska Legislature introduced Senate Bill 39 that aims to amend the state’s Small Loan Act. This proposed legislation seeks to implement significant changes, including the introduction of a predominant economic interest test, the repeal of Alaska’s payday loan law, and amending the maximum interest rate that can be charged on loans up to $25,000. Key Provisions of the Bill Predominant Economic Interest Test.
Lawsuit Filed Challenging FTC’s Final Negative Option Rule | JD Supra

Oct 25, 2024 | jdsupra.com | Jason Cover |Taylor Gess |Carlin McCrory

Earlier this week, we discussed the Federal Trade Commission’s (FTC) final amendments to the Negative Option Rule, now retitled the Rule Concerning Recurring Subscriptions and Other Negative Option Programs. These amendments, which are set to take effect 180 days after publication in the Federal Register, are purportedly aimed at stopping deceptive and unfair practices in negative option marketing. However, the rule has now drawn a legal challenge.
California DFPI’s Earned Wage Access Regulations Approved by OAL | JD Supra

Oct 24, 2024 | jdsupra.com | Jason Cover |Taylor Gess |James Kim

On October 11, the Office of Administrative Law (OAL) approved the California Department of Financial Protection and Innovation’s (DFPI) proposed regulations on direct-to-consumer (i.e., non-employer offered) earned wage access (EWA) products. This approval marks the culmination of a lengthy regulatory process that began in March 2023 and involved multiple rounds of modifications and public comments.
FTC Finalizes Amendments to Negative Option Rule | JD Supra

Oct 21, 2024 | jdsupra.com | Jason Cover |Taylor Gess |Carlin McCrory

In March 2023, we discussed the Federal Trade Commission’s (FTC) Notice of Proposed Rulemaking (NPRM) aimed at making it easier for consumers to cancel recurring subscriptions and memberships. The proposed rule was part of the FTC’s review of its Negative Option Rule, which sought to broaden its scope. Publication of the NPRM resulted in more than 16,000 comments from consumers, federal and state government agencies, consumer groups, and trade associations.
Class Action Alleging Usurious Fees and Tips Filed Against FinTech Provider of Earned Wage Access Services | JD Supra

Aug 23, 2024 | jdsupra.com | Taylor Gess |Carlin McCrory |Caleb Rosenberg

A proposed class action lawsuit has been filed in the U.S. District Court for the Northern District of California against EarnIn, a FinTech provider of Earned Wage Access services, alleging that its optional fees and tips constitute hidden interest payments. The complaint claims that EarnIn’s practices violate Georgia’s Payday Loan Act and the federal Truth in Lending Act (TILA).
Florida Consumer Finance Act Amendments Take Effect | JD Supra

Jul 11, 2024 | jdsupra.com | Jason Cover |Mark J. Furletti |Taylor Gess

On July 1, amendments to Florida’s Consumer Finance Act took effect.