Missouri becomes the second state after Nevada to establish a regulatory framework for EWA

WASHINGTON, D.C. – The Financial Technology Association (FTA) applauds Missouri Governor Michael Parson for signing into law legislation creating a constructive regulatory framework for earned wage access (EWA) products. Missouri’s actions come on the heels of similar legislation signed into law in Nevada, creating a licensing and consumer protection framework to govern EWA. 

“Millions of Americans benefit from the flexibility of earned wage access products to manage their bills while waiting on a paycheck,” said Penny Lee, President and Chief Executive Officer of the Financial Technology Association. “We applaud Missouri for passing bipartisan legislation supporting responsible innovation and giving consumers greater financial freedom. We call on other states to follow suit.” 

FTA has called on states to maintain workers’ access to their already earned wages by passing regulatory frameworks that appropriately reflect the unique structure of EWA products rather than misclassifying them. In a comment letter submitted to the California Department of Financial Protection and Innovation, FTA outlined a proactive approach to EWA regulation and endorsed consumer protection principles for EWA, including no late fees, no interest rates, no mandatory fees, and no impact on a consumer’s credit score.  


The Financial Technology Association (FTA) is a Washington, DC-based trade association representing industry leaders shaping the future of finance. We champion the power of technology-centered financial services and advocate for the modernization of financial regulation to support inclusion and responsible innovation.