Reported Earlier, Dave Comments On CFPB Proposal, Asserts ExtraCash Product Complies With Overdraft Regulatory Framework
Portfolio Pulse from Benzinga Newsdesk
Dave's CEO, Jason Wilk, commented on the CFPB's proposed interpretive ruling regarding paycheck advance and earned wage access (EWA). He emphasized that Dave's ExtraCash product, structured as a bank-originated overdraft with optional fees, complies with the overdraft regulatory framework, distinguishing it from EWA and paycheck advance products.
July 19, 2024 | 6:25 am
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Dave's CEO, Jason Wilk, reassured investors that the company's ExtraCash product complies with the overdraft regulatory framework, despite the CFPB's proposed ruling on paycheck advance and EWA products.
The CEO's statement aims to reassure investors about the regulatory compliance of Dave's ExtraCash product, which could positively impact investor sentiment and the stock price in the short term.
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