Colorado's Earned Wage Access: Loan or Lifeline?
Denver News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Colorado lawmakers grapple with regulating earned wage access apps, which charge high fees for advances on paychecks. A new bill, House Bill ten forty-six, aims to license these companies and cap fees, but critics argue its a disguised payday loan with exorbitant interest rates. The bill, backed by the industry and Democratic sponsors, faces opposition from progressive Dems and watchdogs, and its funding source is under scrutiny. The bills fate hangs in the balance as it heads to appropriations in April.
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