Consumer Credit Regulation: 9.10.4.9 State Laws and Regulations Specific to EWAs
In March 2023, California’s Department of Financial Protection and Innovation (DFPI) proposed new rules to regulate EWAs. The proposed rules clarify that EWAs are loans, and EWA providers must register and report data,1257 However, DFPI gave providers of certain income-based advances a temporary, four-year reprieve from full licensing and compliance with the small loan act.