IPA Supports Introduction of New Earned Wage Access House Bill Sponsored by Rep. Steil
The Innovative Payments Association applauds U.S. Representative Bryan Steil (R-WI) for introducing the Earned Wage Access Consumer Protection Act, which would establish a federal regulatory framework for earned wage access services.
Op-Ed: There is No Need for the FDIC to Tinker with its Brokered Deposits Rule
In a recent opinion piece featured in the American Banker, IPA CEO Brian Tate wrote, "Successfully mitigating risks means focusing on the right root causes. What should we do, however, when policymakers, in the context of correcting root causes, begin to propose changes to our system that have nothing to do with the most recent crisis?" Read the full article on the American Banker site.
Critics of innovation in the payments community have become increasingly vocal in their opposition to Earned Wage Access. The result has been overwhelming misinformation; in an effort to set the record straight, the Innovative Payments Association has launched EarnedWageAccess.info. Additionally, the site and IPA CEO are featured in a recent American Banker article, "Five Innovations in Earned Wage Access," in which he says: "New technologies such as faster payments, real-time updates and digital accounts can help people manage their money with minimal disruption, and these technological advances are helping EWA users."
In his latest Digital Transactions article, IPA COO Ben Jackson wrote," Understanding what kind of AI is being used, what data it needs, and what kinds of outputs it can deliver can help determine whether AI is a good fit for a particular company. The limitations of any possible AI tool also need to be considered. Does the tool create hallucinations, where AI delivers a false or even fabricated result?" Read the full opinion piece on the Digital Transactions site.
Navigating compliance can be tricky; add in artificial intelligence (AI) and the stakes change. However, it’s not just AI that can muddy the waters. That’s why the Innovative Payments Association will convene legal experts in Chicago on Sept. 12 for a one-day compliance boot camp to help payments professionals manage the ever-changing landscape.
To help its members prepare for the changes that are coming, the Innovative Payments Association asked payments expert Sarah Grotta to write a white paper that gives an overview on AI and what it means for payments companies.
In an article that addressed the constantly changing customer trends IPAs COO was quoted as saying, "The easiest way for businesses to stay on top of emerging customer trends is to listen to their customers."
“It is unclear why critics want to place (earned wage access) in the credit silo and call for heavy-handed regulations to restrict access to EWA products,” argues the CEO of the Innovative Payments Association. Read the full opinion piece on the Payments Dive site.