UnidosUS Comments on CFPB’s Interpretive Rule on Earned Wage Access (EWA) Products
The Consumer Financial Protection Bureau’s (CFPB) classification of earned wage access (EWA) products as credit is a positive step to strengthen consumer protections.
However, future regulations must balance these protections with ensuring continued access to these valuable financial tools, particularly for Latino and lower-income consumers who increasingly rely on them as alternatives to more costly short-term credit options.
