Many large employers like Taco Bell, Hilton, Jiffy Lube, McDonalds, and Planet Fitness partner with Tapcheck, a company that offers Paycheck Advances through the Tapcheck app. Employees apply for a cash advance and pay a fee. Tapcheck’s “How it Works” video tutorial shows an advance of $100 for a fee of $4.95. A 14-day loan at this rate yields an annual percentage rate (“APR”) of 129.05%, well in excess of state usury laws. We thus believe that Tapcheck may have violated state consumer protection and fair lending laws. We are also investigating whether, because Tapcheck’s Paycheck Advances essentially functioned as short-term payday loans, Tapcheck’s conduct further violated federal and state consumer finance laws such as the Truth in Lending Act (“TILA”) and Electronic Fund Transfer Act (“EFTA”).
We are representing clients in individual consumer arbitration claims against Tapcheck. If you have a Tapcheck account and received a Paycheck Advance from Tapcheck, you may qualify for a claim under federal and state laws depending on your state of residence.

