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The Consumer Financial Protection Bureau (CFPB) is seeking to crack down on earned wage products, arguing that many should be considered consumer loans, and thus subject to US lending laws.
The rise of EWA. Earned wage access (EWA) is a growing trend in the total rewards space, with employers such as the Nashville Predators and Valor Hospitality offering their employees advance access to their paychecks as a benefit. Some 12% of employers offer EWA, a 2023-2024 survey by Sapient Insights Group found.
But a CFPB analysis of eight companies partnering with employers on EWA found workers often incur fees to get their