Consumer protection board sues Walmart and fintech firm over gig-worker driver pay access [Yahoo! Finance]
Comerica Incorporated (CMA)
Last comerica incorporated earnings: 4/21 06:34 am
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Source: Yahoo! Finance
The Consumer Financial Protection Bureau is suing Walmart and a financial technology firm, alleging they illegally forced drivers into using costly deposit accounts to receive their pay. The agency alleges that Walmart and the vendor, Branch Messenger, forced the drivers, who were part of Walmart's Spark Driver gig-work platform, to use Branch Messenger's deposit accounts to collect their compensation — and would be terminated if they did not want to use this service. The CFPB also alleges that Walmart and Branch Messenger misled workers about the availability of same-day access to their earnings, and that drivers had to follow a complex process to access their funds. Even when they did access their funds, the CFPB alleges, the drivers faced delays or fees if they needed to transfer the money into an account of their choice — resulting in workers paying more than $10 million in fees since 2021 to transfer earnings. “Walmart made false promises, illegally opened accounts, and
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CMA
Earnings
- 10/18/24 - Beat
CMA
Sec Filings
- 12/9/24 - Form 8-K
- 12/4/24 - Form 4
- 12/2/24 - Form 4
- CMA's page on the SEC website