������Ƶ

Truth in Lending Act (TILA): Federal law that requires lenders to provide clear disclosure of lending terms and costs to borrowers, may be applicable to employee loans depending on the circumstances

Consumer Credit Protection Act: Federal legislation that protects consumers in various credit transactions and may impact how employee loans are structured and administered

Fair Labor Standards Act (FLSA): Federal law governing payroll deductions and wage requirements that must be considered when structuring loan repayment through payroll

Internal Revenue Code: Federal tax regulations that may have implications on the tax treatment of employee loans and interest payments

State Usury Laws: State-specific regulations that set maximum legal interest rates and must be complied with in the loan agreement

State Wage and Hour Laws: State-level regulations governing wage payments and permissible deductions that may affect loan repayment structures

State Promissory Note Requirements: State-specific formal requirements for promissory notes to be legally valid and enforceable

State Wage Deduction Laws: State-specific rules about what can be deducted from employee wages and any required authorizations

Employee Protection Regulations: Laws designed to protect employees' rights and interests in financial transactions with their employers

Wage Garnishment Limitations: Federal and state restrictions on the amount that can be taken from an employee's wages for loan repayment

Employment Contract Implications: Consideration of how the loan agreement interacts with existing employment agreements and contracts

Securities Laws: Regulations to ensure the loan structure doesn't inadvertently create a security requiring registration

Documentation Requirements: State-specific requirements for written agreements, including any notarization or recording requirements

Default Provisions: Legal requirements and limitations regarding consequences of default and collection methods