We all know about payday loans - these expensive advances on your pay or income are due on the next payday, with a price tag that exceeds Indiana's loansharking laws. Now, "Earned Wage Access" providers that give you an advance on your pay (sound familiar?) want to classify themselves as "not a loan" with NO limits on fees and charges - and they will also be allowed to ask for tips!

Please reach out to your policymakers with a clear message: these products are unlikely to increase long-term financial well-being for Hoosiers and have questionable value on the whole. But at a minimum, they should be no worse than a payday loan.