WASHINGTON, D.C. – The Financial Technology Association (FTA) submitted a statement for the record for the House Financial Services Digital Assets, Financial Technology, and
WASHINGTON, D.C. – The Financial Technology Association (FTA) today submitted a comment letter raising concerns with the Consumer Financial Protection Bureau (CFPB)’s proposed interpretive
WASHINGTON, D.C. – The Financial Technology Association (FTA), a trade association representing leading fintech companies, joined the American Fintech Council in sending a letter
WASHINGTON, D.C. – The Financial Technology Association (FTA) and the American Fintech Council (AFC) today submitted joint Amicus Briefs in Vickery v. Empower Finance,
WASHINGTON, D.C. – The Financial Technology Association (FTA) applauds Congressman Bryan Steil (WI-01) and Congressman Ritchie Torres (NY-15) on the release of draft legislation,
WASHINGTON, D.C. – The Financial Technology Association released the following statement on the Consumer Financial Protection Bureau’s Advisory Opinion on earned wage access: “Millions
WASHINGTON, D.C. – The Financial Technology Association (FTA) issued the following statement in response to the Consumer Financial Protection Bureau (CFPB)’s proposed interpretive rule
Outlines policy recommendations to ensure the U.S. remains the home of financial innovation WASHINGTON, D.C. – The Financial Technology Association (FTA) today released its
Legislation championed by Reps. Steil and Hill would establish a first-of-its-kind federal regulatory framework to protect workers’ access to their wages. WASHINGTON, D.C. –
Given the choice, most Americans would opt for more frequent pay through products like Earned Wage Access. WASHINGTON, D.C. – The Financial Technology Association
Landmark bill would establish an Earned Wage Access regulatory and disclosure framework for the first time at the federal level. WASHINGTON, D.C. – The
Earned Wage Access helps workers access their wages in a safe and flexible way. Earned Wage Access (EWA) allows an employee to access funds
Digital financial tools are the new normal, with eight in ten consumers using a fintech product to send, manage, save, or invest their money,
California regulators are suggesting that programs that allow workers fee-free access to their earnings between pay periods should be treated as loan products. That’s
WASHINGTON, D.C. – The Financial Technology Association (FTA) submitted a comment letter in response to the Maryland Office of Financial Regulation’s (OFR) proposed regulations
WASHINGTON, D.C. – The Financial Technology Association (FTA) submitted a letter in support of Michigan House Bill 5558, legislation that would provide important regulatory
WASHINGTON, D.C. – Today, the Financial Technology Association (FTA) submitted a comment letter in response to the District of Columbia Department of Insurance, Securities,
The Financial Technology Association (FTA) has submitted a letter to Connecticut Governor Ned Lamont urging a veto of Senate Bill 1396, which would significantly
The Financial Technology Association (FTA) submitted a letter opposing New York Senate Bill 1726 and Assembly Bill 4918, which propose interest rate limitations for
The Financial Technology Association (FTA) submitted a letter in support of HB 2043, a critical piece of legislation that would establish clear, commonsense regulations
The Financial Technology Association (FTA) testified before the Washington State Senate Business, Financial Services, and Trade Committee in strong support of Senate Bill 5328,
The Financial Technology Association (FTA) testified before the Indiana House Financial Institutions Committee in strong support of House Bill 1125, the Indiana Earned Wage
The Financial Technology Association (FTA) submitted testimony opposing North Dakota House Bill 1393, which would effectively prohibit consumers from accessing much-needed Earned Wage Access
WASHINGTON, D.C. – The Financial Technology Association (FTA), a trade association representing leading fintech companies, today urged the Connecticut General Assembly to rework House
The Financial Technology Association (FTA) submitted a letter and joined other Earned Wage Access (EWA) companies and trade associations in asking the California Department
WASHINGTON, D.C. – The Financial Technology Association (FTA) released a statement applauding Wisconsin Assembly Bill 574, legislation that would regulate earned wage access (EWA)
The Financial Technology Association (FTA) sent a letter to the Maryland Office of Financial Regulation (OFR) in response to its Guidance on Earned Wage
WASHINGTON, D.C. – The Financial Technology Association (FTA) today issued a statement on newly released guidance by the Connecticut Department of Banking that could
Missouri becomes the second state after Nevada to establish a regulatory framework for EWA WASHINGTON, D.C. – The Financial Technology Association (FTA) applauds Missouri
Endorses DFPI’s proposed registry and urges further study of the consumer benefits of EWA WASHINGTON, D.C. – The Financial Technology Association (FTA), a trade
The Financial Technology Association, which represents fintech companies including pay-advance firms, has objected to the proposed rule. “Earned wage access should not be considered
Penny Lee, president of the Financial Technology Association, which represents EWA companies, took issue with the proposed rule as well, arguing in a statement
The Financial Technology Association criticized the interpretive guidance as “one that will hurt millions of workers who rely on Earned Wage Access to tap
The Consumer Financial Protection Bureau’s new proposal to regulate earned-wage access products at the federal level is set to bolster blue states that are
Penny Lee, president of the Financial Technology Association, an industry group that counts many EWA companies as members, said her group is “deeply concerned”
“We are deeply concerned that this proposed action by the CFPB will hurt millions of workers who rely on Earned Wage Access to tap
“This proposed action by the CFPB will hurt millions of workers who rely on Earned Wage Access to tap into their already earned wages
Penny Lee, head of the Financial Technology Association, an industry group, says more people are turning to Earned Wage Access as a convenience that
“Getting paid once or twice a month doesn’t work for millions of Americans trying to make ends meet between paychecks,” FTA President and CEO
This legislation is supported by the Financial Technology Association, the trade association for technology based financial service providers. It is also supported by the
Miranda Margowsky, a spokeswoman for the Financial Technology Association, another Washington, D.C.-based trade association, said earned wage access is not a loan, citing the
“Getting paid once or twice a month is outdated, and workers value a financial tool that lets them access their already earned wages to
“It is inaccurate to compare an optional $1 or $2 fee — whether that’s a voluntary tip or fee to expedite a transaction —
“It does help to alleviate financial stress,” said Angelena Bradfield, head of policy and government relations for the Financial Technology Association, which represents this
“EWA products are not credit and should not be classified as loans – they simply give employees access to their already earned wages,” said
“The Financial Technology Association, with fintech members that include Block, Klarna, and Stripe, was quick to denounce the guidance, saying it “could jeopardize access” to
“Speaking on behalf of our [earned-wage access] members, they want the certainty of regulation,” said Penny Lee, president and CEO of the Financial Technology
“We applaud Missouri for passing bipartisan legislation supporting responsible innovation and giving consumers greater financial freedom,” the association’s CEO, Penny Lee, said in an
With the rapid growth of earned wage access (EWA), US states are increasingly working towards bringing this new product category into a clearer regulatory
The Financial Technology Association (FTA), a trade association representing fintech industry leaders, has urged the California Department of Financial Protection and Innovation (DFPI) to
“In a comment letter to the California DFPI, the Financial Technology Association (FTA) voiced concerns about the proposed rule’s classification of EWA products as
A May 17 letter from the Financial Technology Association noted that former Arizona Attorney General Mark Brnovich (R) determined that earned-wage access products don’t
Federal and state regulators are taking a closer look at how to regulate a fast-growing fintech field that connects workers with advances on their
FTA Comment Letter on CFPB’s Proposed Earned Wage Access Interpretive Rule
WASHINGTON, D.C. – The Financial Technology Association (FTA) today submitted a comment letter raising concerns with the Consumer Financial Protection Bureau (CFPB)’s proposed interpretive