Briefing

As Earned Wage Access Grows, Oversight Tries to Catch Up

Abstract: Earned wage access (EWA) services have grown in popularity as more providers offer them and more businesses and consumers use them. However, the complex fee structures and high costs of EWA, as well as some users’ heavy reliance on these services, have raised concerns. Regulatory and legislative bodies have begun to respond to these concerns, with states taking the lead in proposing or passing EWA legislation.

Keywords: Earned Wage Access (EWA); regulations; legislation;

Bibliographic Information

Provider: Federal Reserve Bank of Kansas City

Part of Series: Payments System Research Briefing

Publication Date: 2024-05-15

Pages: 6