New Stimulus Should Support Real-Time Wage Access

Congress is in the midst of debating another stimulus package to help support consumers and small businesses as the pandemic continues to wreak havoc across the U.S.; now is the perfect time for Congress to support real-time wage access since mailed payments can take months to reach people; the way people are paid dates back to a time when cutting a paper check was a time consuming process; real-time wage access would help the more than 50 percent of people who work in low-wage jobs; right now people turn to small dollar or payday loans to bridge the gap between paydays; many fintechs have started to provide paychecks two days early, and some banks have started to follow suit as well; right now is the perfect time to begin exploring more efficient ways to get money in the hand of people who need it the most; support is great but it doesn’t mean much five months later. Forbes.

  • Todd Anderson

    Todd is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists. He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences. He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.