23 min
Earned wage access: Early payday or payday loan? Bankshot
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- Business News
Fintechs created earned wage access so cash-strapped employees could get an advance on their next paycheck to cover urgent expenses. Some say repeat usage of fee-based EWA resembles a payday loan, sparking debate over whether regulators should call EWA a loan.
Fintechs created earned wage access so cash-strapped employees could get an advance on their next paycheck to cover urgent expenses. Some say repeat usage of fee-based EWA resembles a payday loan, sparking debate over whether regulators should call EWA a loan.
23 min