WASHINGTON, D.C. – The Financial Technology Association (FTA) released the following statement on the House Financial Services Committee’s markup of H.R. 9330, the Earned Wage Access Consumer Protection Act. The legislation passed out of committee on a bipartisan basis, 29-22.
“Earned Wage Access puts workers back in control of their own paychecks,” said Penny Lee, President and CEO of the Financial Technology Association. “This legislation protects consumers, provides much-needed regulatory certainty, and ensures families can access the wages they’ve already earned when they need them. We applaud the Committee for passing this bill today and Rep. Bryan Steil for championing this important and timely legislation.”
Earned wage access (EWA) gives workers the power to access wages they have already earned, not future pay, so that they can manage their cash flow on their own terms. EWA products have no mandatory fees, no credit checks, no interest, no recourse, and no impact on credit scores. Federal legislation will codify these consumer protections while preserving access to innovation for millions of Americans.
To learn more about Earned Wage Access, get the facts here.
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The Financial Technology Association (FTA) is a network of fintech industry leaders shaping the future of finance. We champion financial innovation and advocate for policies that expand competition, access, and opportunity.