The Financial Technology Association (FTA) submitted a letter in support of HB 2043, a critical piece of legislation that would establish clear, commonsense regulations for Earned Wage Access (EWA) products in Texas.
EWA enables workers to access a portion of their already-earned wages ahead of the traditional payday, providing a safe and transparent alternative to high-cost credit options. With no mandatory fees, no interest, no credit checks, and no impact on credit scores, EWA products are designed with consumer protection in mind. They offer a no-cost option, and workers only access what they’ve already earned. These services, whether offered directly to consumers or through employers as a benefit, empower people to pay bills on time, handle emergencies, and better manage day-to-day cash flow.
We urge Texas lawmakers to pass HB 2043 and support a modern, secure financial framework that helps workers thrive.
Read the full letter here.