Kansas Becomes Latest State to Implement Earned Wage Access Law
Industry leader DailyPay applauds EWA regulatory development, which codifies industry best practices and enacts robust consumer protections
“This is a victory for employers and employees alike in the State of Kansas who can continue to utilize earned wage access solutions – a financially responsible product.”
TOPEKA, KANSAS, UNITED STATES, April 22, 2024 /EINPresswire.com/ -- DailyPay, a worktech company and the leading provider of earned wage access, celebrates a significant milestone as Kansas Governor Laura Kelly signed House Bill 2560 into law on April 19, 2022. This legislation received bipartisan support and created a new license for earned wage access (EWA) products. — Ryan Naples, Director of Public Policy for DailyPay
HB 2560 creates a new regulatory framework to protect all EWA consumers while promoting innovation. Kansas is now the fourth state to regulate EWA as its own financial product. Wisconsin Governor Tony Ebers (D) signed a similar law on March 21, 2024.
“We’re extremely proud to celebrate another bipartisan bill recognizing earned wage access as its own financial product in the State of Kansas,” said Ryan Naples, Director of Public Policy for DailyPay. “This is a victory for employers and employees alike in the State of Kansas who can continue to utilize earned wage access solutions – a financially responsible product. DailyPay looks forward to continuing our proactive work with important policymakers nationwide just like Kansas’s Governor Laura Kelly (D) to encourage the expansion of our pro-consumer, pro-business, and pro-worker mission to improve employee financial health.”
As the industry leader in on-demand pay solutions, DailyPay remains dedicated to delivering innovative products and services that enhance workers' financial lives. Earned wage access offers workers greater financial flexibility and control of their finances and is a safe and important alternative to payday loans and other high-cost financial strategies and products. With the enactment of House Bill 2560, DailyPay looks forward to expanding its footprint in Kansas and supporting employers and employees alike in achieving their financial goals.
About DailyPay
DailyPay, Inc. is transforming the way people get paid. As a worktech company and the industry’s leading earned wage access solution, DailyPay uses an award-winning technology platform to help America’s top employers build stronger relationships with their employees. This voluntary employee benefit enables workers everywhere to feel more motivated to work harder and stay longer on the job while supporting their financial well-being outside of the workplace. DailyPay is headquartered in New York City. For more information, visit www.dailypay.com/press.
David Schwarz
DailyPay
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