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Are early wage access products a worker-friendly innovation — or loans that need regulation?

Saturday, October 23, 2021
Jillian Berman | Market Watch
Rebecca Borné
“All of those risks are the very same risks we talk about when we talk about payday lending,” Borné said. When a borrower uses a payday loan, they also give the lender access to their checking account either by writing a check dated to the borrower’s payday or by giving the lender electronic authorization to debit the account on pay day.