New York Attorney General Shneiderman introduced the Payroll Card Act to state legislation in 2015 in response to the Attorney General Labor Bureau Report on payroll cards. The report found that an unfair amount of fees were being taken from employees who opted into their employer’s payroll card program. While a payroll card is a convenient way for an employee without a bank account to receive their funds via direct deposit, legislation would provide clear regulations to employers and card issuers as to how to legally offer payroll cards. To read more about the New York Payroll Card Act, click here.
At EPS Financial, you can expect complete peace of mind with our affordable and fully compliant Payroll Cards. Contact us here with questions about our sensible Payroll Cards and how you could offer them to your employees.