Earned Wage Access Consumer Protection Act Approved in House Financial Services Committee by a bipartisan 29-22 vote following a markup hearing. HR 9330 It allows employees to access the money they earn before a typical pay period. Although service providers are not prohibited from charging fees under the legislation, they must offer a free way to access the amount earned.
Phil GoldfederCEO American Fintech Council (AFC) thanked the Representative Bryan Dik for his leadership on legislation.
“Responsible EWA allows workers to access the wages they already earn between paychecks, helping them manage cash flow, avoid unnecessary fees, and reduce dependence on higher-cost alternatives. This legislation recognizes the unique nature of EWA and creates a national, consumer-focused framework with clear disclosures, credit invisibility, and free access options.”
More Americans are relying on the EWA, Goldfeder said, and creating a clear federal standard will protect consumers while supporting responsible innovation.
“AFC looks forward to working with lawmakers on both sides of the aisle to pass this critical legislation into law and strengthen financial outcomes for families across the country.”
penny leeThe Financial Technology Association President and CEO said the EWA legislation protects consumers and provides regulatory clarity.
“We applaud the Committee for passing this bill today and Rep. Bryan Steil for supporting this important and timely legislation.”
Lee stated that EWA products have no mandatory fee, credit check, interest, right of recourse and any impact on credit scores.
Federal legislation would protect access to care for millions of Americans.
