Mandating direct deposit in arizona
Regulation E and the Prepaid Rule Federal Regulation E implements the Electronic Fund Transfer Act (“EFTA”), which establishes the basic rights, liabilities, and responsibilities of consumers who use electronic fund transfer services and of financial institutions that offer these services.The primary objective of the EFTA and Regulation E is the protection of individual consumers engaging in electronic fund transfers.If you already have direct deposit, congratulations and thank you! Well, more than 95% of all Federal retirees receive their payments by direct deposit and they feel secure that their payments will arrive on time and are immediately available to them.Our direct deposit occurs on the first business day of each month!The APA Visa Paycard Portal provides employers with valuable resources relating to permissible methods of wage payment and focuses on the legal requirements governing paycards.The Paycard Portal provides employers with important information on how to integrate paycards into their wage payment programs, and keeps them up to date on this rapidly developing area of the law.
This exclusive special report covers hiring records, employment relationships, termination records, litigation issues, electronic information issues, tips for better recordkeeping, and a list of legal requirements.
Information about the Prepaid Rule, including its text and a summary of the provisions impacting payroll card accounts, can be found on the CFPB website.
- 04/06/2018CFPB Bulletin 2013-10 (Payroll Cards) On September 12, 2013, the Consumer Financial Protection Bureau (CFPB) issued a bulletin reiterating that the Electronic Fund Transfer Act and Regulation E apply to payroll card accounts.
The material provided on the APA Visa Paycard Portal is for informational purposes only and is not to be considered tax, legal, or financial advice, analysis, or opinion.
Readers are reminded that they are solely responsible for complying with federal and state employment laws and are encouraged to seek competent legal authority before taking action based on this material.
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