January 20, 2026

The Government Update

​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​is issued by the Innovative Payments Association twenty times a year as a service to members.
Editors: Brian Tate, President and CEO, IPA; Ben Jackson, COO, IPA;  Eli Rosenberg, Partner, Baird Holm LLP; and Gray Derrick, Partner, Baird Holm LLP. Please address comments and suggestions to: [email protected].

Meet Your IPC Keynote Speaker
Immerse yourself in the epicenter of payments innovation at the IPA's 2026 Innovative Payments Conference – don't miss the annual gathering that's reshaping the financial landscape. This year marks a special milestone as we celebrate the IPA's 20th anniversary! Mark your calendar for this must-attend event taking place on April 29 - May 1, 2026 in Washington, DC. Get ready for three days of groundbreaking insights, cutting-edge technology, and networking opportunities that will change the way you think about payments.

Introducing Our Keynote Speaker:
David Wasserman

David Wasserman is the Senior Editor & Election Analyst for the nonpartisan newsletter, The Cook Political Report with Amy Walter, and a contributor to NBC News. Founded in 1984, The Cook Political Report with Amy Walter provides analyses of U.S. presidential, Senate, House, and gubernatorial races. The New York Times called The Cook Political Report with Amy Walter “a newsletter that both parties regard as authoritative.”
​
In an era of polling uncertainty, Wasserman is the rare analyst who has accurately forecasted the last three presidential elections. 

​In 2016, Wasserman drew wide praise for his accurate pre-election analysis, including his uncanny September piece entitled, “How Trump Could Win the White House While Losing the Popular Vote.” In 2020, Wasserman's forecast of Biden's win was correct in 49 of 50 states, missing only North Carolina. And in 2024, Wasserman correctly assessed that erosion in Democratic support among young and nonwhite voters made Trump the slight favorite to retake the White House.

The political landscape has shifted dramatically—but what comes next? At the Innovative Payments Conference, join renowned political analyst David 

Wasserman for an electrifying, strictly nonpartisan deep dive into the forces that will shape American politics through 2028 and beyond.
​
Fresh from the 2024 elections that delivered full GOP control, Wasserman cuts through the noise to reveal which Senate, House, and gubernatorial races will determine the future of policymaking in Washington. Will we see a backlash in 2026 or 2028? If they win, how will Democrats navigate their return to power? What's the Republican Party's identity after Trump?

Drawing on exclusive insights from his unparalleled access to candidates and strategists on both sides of the aisle, Wasserman decodes the campaign trends, voter mood swings, and emerging dynamics that most analysts miss. This is your insider's guide to the next chapter of American politics—delivered with the sharp analysis and compelling storytelling that has made Wasserman one of the nation's most trusted political voices.

Don't miss this rare opportunity to see around the corner of American politics before it happens.

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Register Now

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Trump Supports CCCA and Capping Credit Card Interest Rates
U.S. Senator Roger Marshall (R-KS) has reintroduced the Credit Card Competition Act (CCCA).   CCCA is cosponsored by U.S. Richard Durbin (D-IL), the author of the Durbin Amendment. Initially introduced in 2022, CCCA, if enacted, would require that credit card transactions offer merchants a choice of networks beyond Visa and Mastercard.  President Trump has expressed his support for the bill.  It’s not clear at this time if the President’s endorsement alone is enough to garner support for the bill’s passage in the Senate or the House. 
 
House Subcommittee Holds Fintech Hearing
On January 13th the House Financial Services Committee, Digital Assets, Financial Technology, and Artificial Intelligence Subcommittee held a hearing entitled, “Delivering for American Consumers: A Review of FinTech Innovations and Regulations.”  Below highlight in blue is the testimony from the panelist for tomorrow’s hearing.  

• Ms. Jodie Kelley, Chief Executive Officer, Electronic Transactions Association
• Mr. Kevin Lefton, Global General Counsel, Stream
• Mr. Ram Palaniappan, Founder and Chief Executive Officer, EarnIn
• Mr. Todd Zywicki, Law Professor, George Mason University Antonin Scalia Law School 
• Ms. Delicia Reynolds Hand, Senior Director, Digital Marketplace, Consumer Reports

 
Kevin Lefton who testified on behalf of IPA member Stream, but he also represented the EWA community by discussing the benefits of EWA and responded to the Committee members with facts and substance.  The IPA looks forward to the continuing conversation with Congress, regulators, and stakeholders regarding the benefits provided by EWA for the American worker.  You can view the IPA press statement for yesterday’s hearing: https://www.linkedin.com/posts/innovativepaymentsassociation_the-innovative-payments-association-commends-activity-7416857157096132609-hytM?utm_source=share&utm_medium=member_desktop&rcm=ACoAAABDgNQBI-oM0PkV9B3IvoXvQwqwzL0B6KU
 
You can view the hearing in its entirety here: https://www.youtube.com/live/wOVzCcuDfSA?si=kanxMqQ_Z6rkYkJ8
 
Steil EWA Discussion Draft 
Prior to the January 13th Fintech hearing, Subcommittee Chair and U.S. Representative Bryan Steil (R-WI) released a discussion draft of his widely expected earned wage access bill.  In brief, highlights from the Discussion Draft include: 

• Requires a no-cost option be made available
• Requires disclosures be made available to consumer prior to any agreement made with consumer regarding limits on any earned wages requested
• Requires disclosures preceding disbursement of any earned wages
• Requires the disclosure of tips
• Requires providers to develop dispute resolution policies
• Fees and Tips will not considered finance charges
• Includes a preemption of state laws provision
• Exempts EWA from TILA

 
The IPA continues to analyze the discussion draft bill.  We urge our members to also review the bill and share their feedback with us prior to the bill’s formal introduction. 
 
CFPB Releases Updated EWA Advisory Opinion 
Days before Christmas, the Consumer Financial Protection Bureau (CFPB) published in the Federal Register a new EWA Advisory Opinion  (AO).  In brief, the AO seeks to outline the conditions in which providers covered by the AO will not be deemed credit.  The IPA has been steadfast advocates for our members companies who are part of the EWA community for several years.  Our goal since 2019 has been to encourage the CFPB to develop a coherent federal framework in which EWA providers can assist working Americans to access the wages they have earned when they need them.
 
The association, alongside our members, led the effort to raise concerns regarding the lack of consistency and clarity from the CFPB when it comes to EWA. Earlier this year, the IPA submitted a letter to the CFPB recommending that the CFPB develop a new updated AO for the industry to follow.  The IPA, and our members, have had numerous conversations related to the benefits of having a new AO for consumers and industry alike.  The IPA also had the opportunity to reaffirm our support for a new AO when we were invited to testify at the CFPB’s Consumer Advisory Board meeting. 
 
Below is a brief overview of the AO: 
 
AO Overview

• Formally withdraws the CFPB’s 2024 Interim Final Rule Proposal
• Employer Sponsored EWA is referred to as, “employer-partnered”
• Safe Harbor for Covered EWA Programs – 4 Prongs:

1. Covered EWA transactions do not exceed the accrued cash value of the wages the worker has earned up to the date and time of the transaction. which amount is determined, based upon payroll data that evidence this amount. A Covered EWA provider does not determine accrued wages based on other information, such as worker representations, or on estimates or predictions of accrued wages.
2. The provider uses a payroll process deduction in connection with the worker’s next payroll event. In a payroll process deduction, payment instructions received and acted upon by the payroll processor (or by the employer itself if it does not use a processor) enable the EWA provider to receive accessed amounts without debiting the consumer’s regular transaction account after the consumer is paid. A transfer to the provider from any of the consumer’s regular transaction accounts after the payment of wages into that account is not a payroll process deduction.
3. Before providing Covered EWA. The provider clearly and conspicuously explains to the worker and warrants to the worker as part of the contract between the parties. that it: (a) has no legal or contractual claim or remedy, direct or indirect, against the worker in the event the payroll process deduction is insufficient to cover the full amount of a Covered EWA transaction, including no right to take payment from any of the consumer’s regular transaction accounts; and (b) will not engage in any debt collection activities related to Covered EWA. place a Covered EWA transaction amount as a debt with or sell it to a third party, or report to a consumer reporting agency concerning Covered EWA.
4. The provider does not directly or indirectly assess the credit risk of individual workers, including through obtaining and reviewing credit reports or credit scores about the individual workers.

• EWA products do not need to be “free” to qualify as Covered EWA program.
• Expedited delivery fees and tips associated with EWA are not inherently finance charges.
• The Advisory Opinion is available to all models of EWA. 
• The CFPB welcomes feedback or questions from the public regarding the AO. 

 
Lastly, IPA member K&L Gates[1] conducted an in-depth legal analysis of the AO, which you can find here: 
 
The IPA will continue to review and analyze the AO.  In the interim, if you have any questions, please contact me at [email protected]. 
 
Digital Asset Market Structure Markup Postponed
Senate Banking Chair Tim Scott (R-S.C.) postponed a January 15th markup of his Digital Asset Market Structure legislation.  The bill (and its House companion) are expected to bring a comprehensive regulatory framework to the crypto marketplace, which is a priority of the Administration and Republican leadership in Congress. Now that the markup has been postponed, the timing of the bills is unclear. It has been reported that the bill has faced some headwinds from the crypto industry, including Coinbase CEO Brian Armstrong, who came out against the bill in its current form. 
 
IPA Files FCC Comment – FCC Delays Implementation of Key TCPA Provision for a Year 
On the first Monday in the new year, the IPA filed a comment responding to the FCC’s Proposed Rule entitled, “Advanced Methods to Target and Eliminate Robocalls.” In brief, the FCC is proposing steps to improve the availability and accuracy of caller identification information transmitted to consumers to enable them to better understand who is calling or messaging and decide whether to answer calls.  Accordingly, the IPA’s comment reaffirms the IPA’s position that the TCPA’s provisions regarding “stop” text communications deserves a second look and that we urge the FCC to grant financial institutions some flexibility to send critical, and in some cases, time sensitive messages even if the account holder has requested not to receive any communications.  The deadline to file comments with the FCC was January 5, 2026.
 
On the same day the comment period closed, the FCC released an Order extending the waiver of section 64.1200(a)(10) of the agency’s rules implementing the Telephone Consumer Protection Act, to the extent the current regulations requires callers to treat a request to revoke consent made by a called party in response to one type of informational message as applicable to all future robocalls and robotexts from that caller on unrelated matters. Specifically, the FCC has found that good cause exists to extend the effective date for this specific requirement from April 2026 to January 31, 2027, to allow for additional time to review the record compiled in response to a recent Further Notice of Proposed Rulemaking and to avoid imposing potentially unnecessary compliance costs on affected parties. 
 
OCC Invites Comments on Core Processor Relationships
Before Thanksgiving, the OCC announced that they have issued a Request for Information (RFI) entitled, “Regarding Community Banks’ Engagement with Core Service Providers and Other Essential Third-Party Service Providers.”  The RFI follows the agency’s 2025 RFI on Digitalization. The OCC is seeking public feedback on key challenges and barriers faced by community banks in engaging with their core service providers and other essential third-party service providers.  The RFI also includes questions on potential actions the OCC could take to address these challenges, including with respect to burden reduction related to supervisory practices, policies, and guidance (e.g., guidance on third-party risk management), as well as other potential agency initiatives.  Lastly, the RFI specifies that it is not intended to impose any obligations or define any rights, and it is not an interpretation of any regulation or statute.  Comments are due on January 27th.  The IPA plans to comment. 
 
OCC Notice on Regulation E – Prepaid Accounts
In mid-December the OCC released a Notice and Request for Comment soliciting public feedback concerning the renewal of its information collection titled, “Reg E—Prepaid Accounts.” Per the release, the CFPB's Prepaid Account final rules require financial institutions to make available to consumers disclosures before a consumer acquires a prepaid account.  Accordingly, the OCC invites comments on the following: 

• Whether the collection of information is necessary for the proper performance of the functions of the OCC, including whether the information has practical utility; 
• The accuracy of the OCC's estimate of the burden of the collection of information; 
• Ways to enhance the quality, utility, and clarity of the information to be collected; 
• Ways to minimize the burden of the collection on respondents, including through the use of automated collection techniques or other forms of information technology; and 
• Estimates of capital or start-up costs and costs of operation, maintenance, and purchase of services to provide information.

 
The deadline to submit comments to the OCC is February 17, 2026. Following the close of this notice's 60-day comment period, the OCC will publish a second notice with a 30-day comment period. The IPA is currently reviewing the OCC’s request and plans to submit a comment.  In the interim, if you have any questions or comments, please send them to Brian Tate ([email protected]).  
 
Hill Confirmed as Chair of the FDIC
Before the Senate adjourned for their end of the year recess, they confirmed Travis Hill to be the next Chair of the FDIC. Hill, who has been serving as the Interim Chairman of the FDIC, is a long time FDIC employee. The new Chair has previously worked at the FDIC from 2018 to 2022, as Deputy to the Chairman for Policy and, before that, as Senior Advisor to the Chairman. In these roles, among other responsibilities, he oversaw and coordinated regulatory and policy initiatives at the agency and advised the Chairman on regulatory and policy matters.
Prior to joining the FDIC, Mr. Hill served as Senior Counsel at the United States Senate Committee on Banking, Housing, and Urban Affairs, where he worked from 2013 to 2018. In this role, he participated extensively in the drafting and negotiating of numerous bipartisan bills. 
 


[1] Please note that the analysis provided by KLGates does not necessarily represent the position of the IPA or our member companies.         

    IPA Mentions/Podcasts/Blogs/Reports:

• IPA PR: IPA Commends Kevin Lefton for his HFSC Testimony 
• IPA Blog: Congress Heads Into Year-End With Funding and Health Care Unresolved
• IPA Blog: A Call for Clarity, Why EWA Guidance Matters
• IPA Pod: Stablecoins are Launching a New Payments Era

Upcoming Calls and Webinars

• Next GRWG Weekly Call – January 26, 2026 
• IPA Webinar: Artificial Intelligence and Data Security
  • Speaker: Robert L. Kardell (Baird Holm)

Events        
         2026 Innovative Payments Conference:

• Dates: April 29 – May 1, 2026
• Location: Mayflower Hotel – Washington, D.C. 
• Featured Keynote Speakers Include: David Wasserman

Upcoming Events