Workers are paying to get part of their paychecks early. It's 'payday lending on steroids,' one expert says
Publishing timestamp: 2024-01-28 08:30:01
Summary
The article discusses the rise of earned wage access programs, which allow workers to access a portion of their paychecks before payday for a fee. While these programs offer quick access to funds, they can come with high fees and interest rates, similar to payday loans. The article explores the different models of earned wage access programs and the potential risks and benefits for consumers.
Sentiment: MIXED
Tickers: ML,
Keywords: personal finance, laws, moneylion inc, social issues, personal loans, products and services, inflation, consumer finance, business news, consumer credit, personnel,