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On June 15, 2023, Nevada Governor Joe Lombardo signed the nation’s first law establishing a new financial services licensing regime for earned wage access services (aka on-demand pay), which allow workers to access earned but unpaid income before payday. The law imposes licensing, reporting, examination, and other substantive requirements on providers, and provides important regulatory certainty for these innovative financial services. The law may shape similar legislation in other states.
In this webinar, Goodwin fintech regulatory lawyers, Alexander J. Callen and Ximeng (Sammy) Tang, will provide an overview of this groundbreaking law and explore its implications for providers, employers, and workers.