New law ensures EWA remains accessible in Maryland and establishes strong consumer protections

AFC applauds House Economic Matters Committee Chair C.T. Wilson, and Delegate Marlon Amprey for championing responsible financial innovation

Washington, D.C. (May 28, 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 Maryland General Assembly for enacting House Bill 1294. This vital legislation, sponsored by House Economic Matters Committee Chair Del. C.T. Wilson and Del. Marlon Amprey, establishes a revised regulatory framework for EWA services, enabling responsible providers to return to Maryland and support workers while adhering to strong standards of consumer protection.

In 2023, Maryland regulators issued guidance restricting EWA services in the state, forcing responsible providers to exit the market and leaving 100,000 Maryland workers without a critical financial tool. Last month, AFC and a coalition of responsible EWA providers submitted a letter urging state leaders to codify responsible industry standards for EWA services. By listening to consumer voices and addressing regulatory barriers to EWA availability, Maryland has created a strong framework for encouraging responsible innovation that gives workers better ways to manage their money and remain financially stable.

"This new law creates a pathway for responsible EWA providers to return to Maryland and once again serve the over 100,000 workers who previously benefited from these vital services," said Phil Goldfeder, CEO of the American Fintech Council. "This legislation provides a clear and responsible framework for Earned Wage Access, and we commend the state's leadership for recognizing the importance of empowering consumers with modern financial tools.”

Earned Wage Access gives workers the power to access their already-earned wages before their regular payday, offering them greater financial flexibility and stability. To protect consumers utilizing this innovative service, the new law enacts vital safeguards within the state. These include ensuring a no-cost option is available to everyone, requiring clear and transparent fee disclosures, preventing the need for credit checks, and allowing users to cancel the service at any point without incurring cancellation fees, meaning that funds do not have to be repaid.

AFC members praised the law and Maryland’s leadership:

"This legislation is a win for working people in Maryland, who deserve access to their already earned money when they need it, not on a scheduled payday that often does not match up with real life,” said Ryan Naples, Vice President of Public Policy at DailyPay. “We thank the Maryland legislature and Governor Wes Moore for delivering for Maryland’s working families and the broader Maryland economy. DailyPay also remains dedicated to working with the State of Maryland to continue providing innovative financial wellness tools that enhance workers' lives.”

“I’m deeply grateful that more than 1000 EarnIn customers were willing to share their stories in support of HB 1294. This framework has been years in the making and protects their ability to access earned wage access products safely and on their own terms,” said Ben LaRocco, Senior Director of Government Relations at EarnIn. “I also want to sincerely thank Chairman Wilson, Delegate Amprey, and Governor Moore for their leadership and for placing their trust in the working families of Maryland.”

"The remarkable and steadfast work conducted by the Legislature has created a robust framework that captures the most important consumer protections, while allowing for the financial services industry to offer these innovative products that are a financial lifeline for so many Marylanders," said Tara Rider, Vice President, Policy and Government Relations at Brigit.

"Maryland’s new law on Earned Wage Access sets a high standard for consumer protection and preserves financial flexibility for consumers in the state, and we applaud the state’s leadership in recognizing the value of timely access to wages,” said Colin Jones, General Counsel at Cleo. “This is yet another sign of the growing momentum across the country to enact Earned Wage Access laws in support of workers’ financial well-being."

“By enabling access to wages in between traditional pay cycles for the Maryland workforce, this new law supports greater financial stability for working families and helps them avoid high-cost loan alternatives. We applaud Maryland’s leaders for recognizing the value of EWA and establishing a thoughtful regulatory framework that preserves access to this essential benefit during moments of financial need," said Matt Pierce, CEO of Immediate.

"Maryland's EWA framework represents bipartisan policy that enhances financial wellness for working families,” said RaShawn Mitchell, Head of Government Affairs at MoneyLion. “With clear regulations that protect consumers while enabling innovation, Maryland workers can now access their earned wages when needed, reducing financial stress and improving overall well-being."

“The passage and subsequent enactment of Maryland’s landmark EWA law is a resounding statement from policymakers that EWA is a valuable tool for workers to manage their own finances and provides a responsible alternative to high-cost, predatory lending products,” said Molly Jones, Head of Public Policy at Payactiv.

“By establishing a clear regulatory path with robust consumer protections, Maryland has demonstrated that it’s possible to embrace innovation while safeguarding the financial wellbeing of its people. From our own research, we know that 9 in 10 say their finances are stable or improved when they can choose their own pay cycle with EWA. We commend the state's leadership for recognising this and making responsible access to earned wages a priority," said Kevin Lefton, General Counsel of Wagestream.

"We’re incredibly grateful to Chair Wilson and Delegate Amprey for their commitment to working families and responsible innovation,” said Garth McAdam, General Counsel at ZayZoon. “This new bill demonstrates that access and consumer protection can coexist through thoughtful, principled regulation. By recognizing the critical role EWA plays in workers’ lives, Maryland has shown its commitment to responsibly modernizing the financial tools available to Maryland workers."

“In passing this bill into law, Maryland leaders have created a more inclusive and accessible financial landscape for the state’s working families.” said Ashley Urisman, Director of State Government Affairs at AFC. “By establishing a clear regulatory framework for Earned Wage Access along with strong consumer protections, this law ensures that EWA can continue to provide valuable support to workers and positively impact Maryland’s economy.”

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.

‍