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February 16, 2015

New York Attorney General introduces new Payroll Card Act

New York Attorney General Eric Schneiderman has introduced a new legislation to regulate the use of payroll cards protecting workers' rights while accessing their wages.

By Verdict Staff

New York Attorney General Eric Schneiderman has introduced a new legislation to regulate the use of payroll cards protecting workers’ rights while accessing their wages.

The new act will clarify ambiguities in the law and offer a convenient and beneficial method for workers to access their pay via the payroll cards.

The Attorney General’s Payroll Card Act will require employers to disclose payroll card fees clearly, and will restrict certain fees.

Attorney General Schneiderman said: "While payroll cards can be helpful for employees without bank accounts, programs often impose fees that chip away at people’s hard-earned wages.

"The Payroll Card Act will ensure that workers have free and clear access to their wages, while providing clarity to employers about how to offer payroll cards in compliance with the law."

The Retail Action Project (RWDSU) interim director Darrah Sipe said: "Many retail workers sign up for these cards upon hiring without knowing they can incur fees for withdrawing money at the wrong ATM or requesting a paper statement. Workers should have an informed choice in how they receive the wages they have worked hard to earn."

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