AFC’s Workers for Wage Access initiative highlights consumer stories and urges regulators to protect EWA services

Another study recently released by the University of Connecticut demonstrates that limiting EWA harms workers and drives them toward high-cost alternatives

Washington, D.C. (May 6, 2025) – The American Fintech Council (AFC), the premier industry association representing responsible fintech companies and innovative banks, today released new findings showing broad public support for earned wage access (EWA), a tool that allows workers to access a portion of their earned wages for work they have already completed before payday.

The research, featured on AFC’s updated Workers for Wage Access platform, draws on a nationally representative survey of 1,500 U.S. voters and nearly 150,000 public comments submitted to the Consumer Financial Protection Bureau (CFPB). The data reinforces a clear message from working Americans: EWA is a safe, essential financial tool that consumers want—and regulators must protect access to it.

“Responsible Earned wage access helps workers manage everyday expenses, avoid high-cost payday loans, and stay in control of their finances,” said Phil Goldfeder, CEO of the American Fintech Council. “As this research confirms, the overwhelming majority of EWA users and voters support policies that protect access—not restrict it. Lawmakers and regulators should listen to the voices of everyday Americans and ensure these services remain available, transparent, and affordable.”

Key findings include:

● 8 in 10 U.S. voters support access to EWA.

● 30% of all voters and 50% of union members have accessed their wages early to meet urgent financial needs like rent, groceries, or medical bills.

● 87% of respondents agreed that losing access to EWA would likely push workers toward harmful alternatives like high-interest credit cards or payday loans.

● Nearly 9 in 10 voters identified key safeguards—no interest, low/no fees, and no impact to credit—as essential features of EWA services.

The updated platform also features AFC’s interactive public comment map, displaying where workers submitted personal stories urging the CFPB to revise or withdraw its proposed interpretive rule that attempted to classify EWA as a loan—potentially eliminating these services or making them more expensive.

Additional research recently released by the University of Connecticut shows the detrimental impact that limiting access to earned wages has on workers. Connecticut’s January 2024 decision to restrict EWA has put unnecessary financial strain on the state’s workers. More than two thirds of the state’s EWA users respondents said the service had made a positive impact on their financial situation before it was shut down; more than a third of families have gone without what they needed due to the shut down; 26% have relied on credit cards instead and 31% have had to borrow from friends and family to afford necessary purchases. Many turned to predatory and high-cost alternatives, including 8% who pawned items and 6% who took out payday loans.  

“The debate on EWA often speaks for workers rather than hearing their perspectives. Crafting consumer-focused policy requires listening to people who face the challenges EWA seeks to solve. Workers for Wage Access was created to elevate the voices of  actual workers who would be most impacted by regulatory changes around EWA, moving beyond the hypothetical workers and creative theories of harm that too often dominate public debate. Simply put, real people with real voices are at the crux of this issue, and must be heard,” said Ian P. Moloney, SVP and Head of Policy and Regulatory Affairs at AFC. “Our Workers for Wage Access research makes clear that workers value earned wage access, and both Washington and statehouses nationwide must take that seriously.”

To explore the data, visit fintechcouncil.org/workers-for-wage-access.

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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