Check out this article and video from More Perfect Union about so-called "earned wage access" - before signing up for any provider like this!
"There’s a new wave of shady lenders hitting the market, and they’re convincing their borrowers—and lawmakers—that they’re nothing like the payday loan operators or swindlers of old.
A closer look at how these companies work reveals a different story.
Apps like EarnIn, DailyPay, and other “earned wage access” platforms promise users (the majority of whom make less than $50,000 a year) that they can access the wages they’ve already earned, free of interest charges or any extra fees, without waiting until payday."
Contact us or fill out this survey from our partners at New Economy Project if you've used Cash Advance apps and have a story to tell to help inform legislators. Visit the survey here.
Dan
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