CFPB Says Some Earned Wage Access Products Not Considered Credit

On December 23, 2025, the CFPB issued an advisory opinion stating that "covered" earned wage access (EWA) products fall outside the definition of credit under TILA's Regulation Z, withdrawing a Biden Administration July 2024 proposed interpretive rule identifying all EWA products as credit. Companies offering EWA products allow employees to access wages that they have already earned in advance of their scheduled pay dates.

EWA products are either employer-integrated or direct-to-consumer. In the employer-integrated model, the EWA company contracts with the employer to access their time management and payroll software, offers an app to employees, and reimburses its costs through a payroll reduction plus fees. In the direct-to-consumer model, the EWA company contracts with the consumer, recoups funds from the consumer's checking account at a later date, and typically charges subscription fees and fees for expedited fund transfers.