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HARTFORD, CT – A company that advances consumers their wages in a financial service called earned wage access announced Tuesday that it would create a fund to pay the banking charges for former Connecticut customers who can no longer use its services since it left the state. ....
Consumer advocates contend that relative to the amount of money being loaned, the fees charged constitute an extremely high effective interest rate. ....
“Earned wage access” programs have ballooned in popularity. But some experts and consumer advocates fear their fees can be like those of payday loans. ....
“Earned wage access” programs have ballooned in popularity. But some experts and consumer advocates fear their fees can be like those of payday loans. ....