Consumer Financial Protection Bureau-Early Wage Access Letter

The NC Coalition for Responsible Lending is proud to partner with organizations across the nation to work toward stronger consumer protections. In the spirit of this, we have co-signed the following letter in support.

On October 12th, 2021, The Center for Responsible Lending (CRL) in collaboration with the National Consumer Law Center submitted a letter urging the Consumer Financial Protection Bureau (CFPB) to revise its advisory opinion on Early Wage Access (EWA). The opinion says that in some limited circumstances, these products are not credit under federal law. The NC Coalition for Responsible Lending along with over 90 consumer, labor, civil rights, legal services, faith, community, and financial organizations signed on in support.