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Dave Issues Statement Regarding CFPB Proposal
DAVEDave(DAVE) Newsfilter·2024-07-19 07:09

Media Contact Dan Ury press@dave.com "We are closely monitoring the recently proposed interpretive ruling from the CFPB around paycheck advance and earned wage access ("EWA"), a model which Dave was originally founded on, but transitioned away from beginning in 2022 due to a lack of certainty around the regulations," said Jason Wilk, Founder and CEO of Dave. "Dave's ExtraCash product is structured as a bank-originated overdraft with optional fees, which combats the excessive fees found at incumbent banks. A ...