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Ep. 75: Avoiding Over-Regulating Earned Wage Access with Justin Hosie
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Many Americans struggle with debt, living paycheck to paycheck. Going to a payday lender or credit card company may be a short-term solution, but a long-term issue with paying off the interest. However, earned wage access (EWA) is another solution. EWA — sometimes referred to as early pay — is the ability for employees to access a portion of their already earned wages, if needed, outside of a traditional pay cycle. Yet states like Connecticut are over-regulating the ability for people to access their own money to help them make ends meet. Justin Hosie, a partner at Hudson Cook, LLP, explains.
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