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Stock impact report

Facing mounting debt, three-quarters of U.S. workers want to get paid every day [Yahoo! Finance]

MoneyLion Inc. Class A (ML) 
Company Research Source: Yahoo! Finance
Called earned wage access (EWA), these programs allow employees to collect their pay at the end of each workday. Major corporations such as Walmart and Amazon have already started offering in-house EWA programs for their employees , and the Consumer Financial Protection Bureau announced last month that it would be issuing federal guidance on EWA soon. Increasing momentum around EWA is an encouraging sign for its proponents, who say that these programs could help scores of Americans who run out of money before the end of the standard two-week pay period in covering daily expenses such as food, gas, and utility bills. But to hit the U.S. mass market, EWA advocates first have to convince regulators that they're different from payday lenders—and that EWA is a tool to help Americans get out of debt, not the other way around. EWA and payday loans do exhibit differences. Many EWA providers don't charge interest to employees who collect pay early from an employer, and instead make money Show less Read more
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