Highlighting an alarming threat to Maryland workers

“Earned wage access” is marketed as a means of making it easier for workers to get their paychecks before payday. In reality, these so-called EWA advances are exorbitant loans that harm workers by putting them in a worse financial position than before they borrowed money in the first place. With “fees” and “tips” that the lenders require or solicit, EWA advances are loans with interest rates that regularly exceed 100%, and often exceed 300%, far above interest rates allowed by Maryland law.