Some employers are going with an option of issuing wages to employees on payroll cards (like prepaid credit cards) instead of issuing checks or making direct deposits into their bank accounts. Here in Indiana, the state issues unemployment benefits that way. Although it might sound like an easy and desirable option, not everyone is thrilled with it.
In fact, the Consumer Financial Protection Bureau (CFPB) is reporting that employers are reportedly pushing the cards on their workers and that there are some issues. (more…)