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The Rise of ‘Fringetech’: Regulatory Risks at the beginning of Wage Access

The Rise of ‘Fringetech’: Regulatory Risks at the beginning of Wage Access

Duke University School of Law

The financial technology, or FinTech, sector appeared to have developed an innovative solution to assist low-income workers with income shortfalls between standard paydays by displacing fringe financial service providers, namely payday lenders by many accounts. Early wage access programs facilitate very early transfers of earned but unpaid wages to low-income workers through mobile platforms, algorithmic technology, and GPS-tracking. To a lot of, very early wage access programs represent a win-win for workers and their companies. Continue reading The Rise of ‘Fringetech’: Regulatory Risks at the beginning of Wage Access