Earned Income Access Helps Consumers and Should Be Supported

In an op-ed in American Banker, former head of the CFPB fintech office, Dan Quan, argues for the support of earned income access (EIA); leading companies in EIA such as PayActiv and Earnin provide workers timely access to wages that have already been earned and by doing so help many consumers avoid expensive payday loans; he points to the unanimous support in the California Senate for a recent bill providing a regulatory framework for EIA; Quan also said that while there has been some resistance to EIA this can be overcome once its great consumer benefits are understood and embraced. Source.

Peter Renton is the chairman and co-founder of LendIt Fintech, the world’s first and largest digital media and events company focused on fintech.

LendIt Fintech conducts three conferences a year for the leading fintech markets of the USA, Europe, and Latin America. LendIt also provides cutting-edge content all year long via audio, video, and written channels.

Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series.

Peter has been interviewed by the Wall Street Journal, Bloomberg, The New York Times, CNBC, CNN, Fortune, NPR, Fox Business News, the Financial Times, and dozens of other publications.

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