PayrollOrg’s Government Relations Task Force Electronic Payments subcommittee supported H.R. 9330, the Earned Wage Access Consumer Protection Act, introduced by Rep. Bryan Steil (R-Wis.).
Specific provisions of H.R. 9330 that PayrollOrg supports include:
- Definitions that appropriately distinguish earned wage access (EWA) from traditional payday lending by recognizing that the wages have already been earned but not yet paid
- Specific provisions that exclude payroll service vendors acting solely in their capacity as facilitators of wage payments from the definition of an EWA provider
- Measures that provide consumer protections
PayrollOrg encouraged Congress to pay close attention to the relationship between EWA and federal employment tax rules and regulations, particularly the doctrine of constructive receipt under the Internal Revenue Code.
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Interested in joining PayrollOrg’s Government Relations Task Force? Please contact us.
Alice P. Jacobsohn, Esq., is Director of Government Relations at PayrollOrg.
