May 13, 2022
With all the news that comes out of Washington DC, it is easy to see why payments-related items might not be at the top of everyone’s minds. Nonetheless, a number of recent proposals, hearings, and releases show that the industry needs to be paying attention to what is going on beyond the headlines.
In this episode we take a deep dive into some of these items with Brian Tate, the CEO of the Innovation Payments Association, and Brian Axell, of Axell Law, who has worked on compliance with Fintechs, issuing banks, and a variety of companies across the value chain.
We look at the Consumer Financial Protection Bureau’s recent Request for Information on Fees, and their assertion of power to regulate Fintechs. We get into the Biden Administrations proposal on tax reporting for Earn Wage Access, and we even dip our toes back into the Interchange waters.
To read Brian Axell’s blog on the EWA tax proposal, visit: Axell Law LLC | Biden Budget Plan Would Impose Earned Wage Access Tax Withholding Mandates on Employers