Tom Rainey’s Post

Generation NOW: new category... With systemic need for daily pay, what insights does this provide? Low pay wages, high inflation, no COLA, extra hidden fees to access your own money. Companies like Dayforce are today's equivalent to the regulated payday advance loans. With the accessibility to provide immediate availability of funds, companies still instill stall tactics, delay techniques, and both intentional and uneducated HR personnel in order to monetize and capitalize on their interest bearing accounts. Why is this acceptable practices? This is also wage theft. How and why do we as american citizens allow this to continue? Employers should not over extend themselves and expect free labor for a week and sometimes two weeks before providing our earned wages. Floridas minimum wage hike has not yet reaped the expected outcomes. Pay your educated employees what their worth and adjust cola's proportionately. I expect retro-compensation, how about you?

As Wisconsin becomes the latest state to regulate Earned Wage Access (EWA) services, we connected with Nico Simko, founder and CEO of on-demand pay app Clair, to discuss the ever-changing EWA landscape, the impact of local state government's efforts to protect consumers, and more

Pay day is a great day! I think we can all agree on that. However, it could be better. What if, on payday, you knew: 👍 exactly which bills are due that pay period (ie before your next paycheck hits your account) 👍 exactly how much those bills add up to 👍 exactly how much you have left over and available to spend/save/invest that pay period after you’ve paid those bills (your “true discretionary income”) Wouldn’t it be nice to have that clarity and financial certainty on pay day, each and every pay day? Spoiler alert: YOU CAN! Ping me to learn how. #financialwellness #payday #bills #personalfinance #finances

How can employers boost retention and empower their teams? In her interview with The Fintech Times at Money20/20, DailyPay CEO Stacy Greiner shares how Earned Wage Access is shaping the future of work. Check out the full conversation: https://bit.ly/4idVHgT

In an on-demand world, the last thing you should wait for is your pay. DailyPay, Inc. CEO, Stacy Greiner, explores how EWA is disrupting outdated pay systems and empowering workers in her latest International Business Times UK article.

In an on-demand world, the last thing you should wait for is your pay. DailyPay, Inc. CEO, Stacy Greiner, explores how EWA is disrupting outdated pay systems and empowering workers in her latest International Business Times UK article.

Have you ever used an Earned Wage Access (EWA) app like EarnIn or Dave? They claim to give people access to their wages before payday. In reality, they make loans, often with exorbitant interest and fees. We want to hear from you! Take our quick survey: https://lnkd.in/eBmcGgy6

The Innovative Payments Association is excited to see the Earned Wage Access Consumer Protection Act (H.R. 7428) introduced by U.S. Representative Bryan Steil (R-WI). This bill establishes a federal framework for Earned Wage Access (EWA) services, a critical tool for American workers facing financial insecurity. Why We Support EWA ✅ Financial Empowerment: EWA allows workers to access their already-earned wages between paychecks, helping them manage unexpected expenses and avoid costly alternatives like payday loans. ✅ Consumer Protection: H.R. 7428 prioritizes consumer protection while fostering innovation. It clarifies that EWA is not a loan, avoiding unnecessary regulations that could stifle this valuable service. ✅ Employer-Sponsored Programs: The bill recognizes the benefits of employer-sponsored EWA programs, offering employees a convenient and secure way to access their earned wages. EWA vs. Costly Alternatives A 2021 Financial Health Network report highlights the significant cost savings of EWA compared to other options: ➡ Average EWA transaction: $2.59 - $6.27 ➡ Average overdraft fee: $35 ➡ Payday/Title loan fees: $15 - $100 ➡ Pawn loan fees: $75 - $100 Time for Action We urge the House Financial Services Committee to pass H.R. 7428. This bill offers a balanced approach that protects consumers while enabling EWA's potential to improve the financial well-being of millions of Americans. For additional information, read the press release: https://lnkd.in/ezrCaBNK #earnedwageaccess #financialwellness #consumerprotection #financialinclusion

The traditional pay cycle is a thing of the past.  Learn how Earned Wage Access is breaking barriers, helping employees take control of their finances, and supporting businesses in retention and growth.