EWA Apps Resemble Payday Loans

A Center for Responsible Lending analysis of SaverLife data finds workers increasingly use earned‑wage access apps for basics like rent and groceries, often stacking multiple apps and advances. Heavy users paid about $421 a year in combined loan and overdraft fees—nearly triple moderate users—suggesting costs that mirror high‑fee short‑term credit. — If EWA behaves like credit, regulators may need to treat it as lending to prevent debt‑trap dynamics among low‑income workers.