New York State DOL Revokes Regulations Regarding the Payment of Wages by Direct Deposit and Debit Card
The New York State Department of Labor Revokes Regulations Regarding the Payment of Wages by Direct Deposit and Debit Card
In a decision issued February 17, 2017, the New York State Industrial Board of Appeals (IBA) revoked the regulations regarding payment of wages by debit card and direct deposit that were scheduled to be in effect as of March 7, 2017. The full decision is available here. The Industrial Board of Appeals (IBA) concluded that the Commissioner exceeded his “rulemaking authority and encroached upon the jurisdiction of the banking and financial services regulators.” Therefore, the regulations governing the payment of wages by debit card and direct deposit, which were set to go into effect on March 7th, are revoked. An appeal is possible. Additional information will be released as it becomes available.