E7: Earned Wage Access, Income Share Agreements and Other "Non-recourse" Finance (Video)

State and federal laws have a variety of Important consumer protections for many types of credit, including interest rate limits and cost disclosure requirements. But a growing number of products, including earned wage access products, income share agreements, and home shared appreciation products, meet financing needs while claiming not to be “loans” or “credit” subject to those laws. Many of their arguments hinge on the claim that the financing is “non-recourse” and does not create a “debt.” State and federal regulators are grappling with these issues. This session will explore the legal issues surrounding the scope of credit laws and the policy implications for allowing products to escape those laws.