House Bill 368 establishes responsible standards for Earned Wage Access, empowering Louisiana workers with secure and flexible financial tools

AFC commends Rep. St. Blanc for championing consumer-centric fintech innovation in Louisiana

Washington, D.C. (July 2, 2025) – The American Fintech Council (AFC), the premier industry association representing responsible fintech companies, innovative banks, and the largest number of responsible Earned Wage Access (EWA) providers, applauds the Louisiana Legislature for enacting House Bill 368, a landmark law establishing clear, responsible standards for EWA services. Championed by Rep. Vincent St. Blanc, this important legislation protects consumers while fostering responsible innovation in Louisiana’s rapidly growing EWA market.

In May, Phil Goldfeder, CEO of the American Fintech Council, travelled to Baton Rouge to testify in favor of the legislation before the Louisiana House Commerce Committee and meet with members on this important bill. Once passed in the legislature, AFC and a coalition of responsible EWA providers submitted a letter to Governor Landry urging him to sign HB 368 into law. In the absence of existing EWA regulation in Louisiana, this legislation establishes clear guardrails rooted in proven practices—ensuring services remain transparent, accessible, and aligned with consumer needs.

“Louisiana’s action on this legislation shows that states can lead the way in crafting commonsense rules that protect consumers without limiting access to valuable financial tools," said Goldfeder. “Earned Wage Access has helped millions of workers manage everyday expenses without turning to high-cost credit, and this legislation ensures those benefits remain available to all Louisianians. We applaud Representative St. Blanc for advancing a model that prioritizes oversight without stifling responsible innovation.”

EWA allows workers to tap into the pay they’ve already earned before payday, giving them better control over their finances and helping them avoid costly and predatory alternatives. HB 368 establishes clear consumer protections for these services in Louisiana, including a voluntary no-cost access option, straightforward fee disclosures, no credit checks, and the freedom for users to cancel anytime without penalties.

“HB 368 reflects a thoughtful approach to responsible innovation and consumer protection,” said Ashley Urisman, Director of State Government Affairs at AFC. “Lawmakers in Louisiana recognized the value Earned Wage Access brings to workers across the state and developed a framework that preserves access while putting important guardrails in place. We’re grateful for their leadership and look forward to continuing to support policymakers across the country as they consider similar legislation."

A standards-based organization, AFC is the premier trade association representing the largest financial technology (Fintech) companies and innovative banks offering embedded finance solutions. AFC’s mission is to promote a transparent, inclusive, and customer-centric financial system by supporting responsible innovation in financial services and encouraging sound public policy. AFC members foster competition in consumer finance and pioneer products to better serve underserved consumer segments and geographies.

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