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The Innovative Payments Association (IPA) has released its 2025 Annual Report, highlighting a year of advocacy, industry engagement, and thought leadership on the issues shaping the future of payments.
Throughout 2025, the IPA worked with policymakers, regulators, and industry stakeholders to advance responsible innovation while supporting a regulatory framework that protects consumers and promotes financial inclusion. The report details the association's efforts on key issues including earned wage access (EWA), prepaid accounts, bank-fintech partnerships, open banking, fraud prevention, and the continued expansion of electronic payments. The report also reflects on a milestone year as the IPA celebrated 20 years of leadership in the payments industry. From comment letters and congressional engagement to educational programs, media outreach, and member events, the IPA continued to serve as a leading voice for banks, fintechs, payments companies, and technology providers navigating a rapidly evolving regulatory landscape. In addition to reviewing the association's advocacy work, the report provides an overview of member benefits, industry participation, and the impact of IPA's educational and networking initiatives. Download the full 2025 Annual Report to learn more about the IPA's accomplishments, policy priorities, and vision for the future of payments. Today, the Innovative Payments Association (IPA) extends its gratitude to Chairman Bryan Steil (R-WI) for convening the Subcommittee on Digital Assets, Financial Technology and Innovation hearing on financial innovation. The IPA is proud that Kevin Lefton, Global General Counsel of Stream was invited to provide the crucial perspective of employer-integrated earned wage access (EWA) providers. The association further endorses Chairman Steil's commitment to establishing durable regulatory clarity for EWA products.
“Stream has been a leader in advancing earned wage access as a practical financial wellbeing benefit for workers,” said Tate. “Today’s testimony reflects the company’s focus on providing responsible, real-world solutions that help employees manage their finances while delivering measurable value for employers. Regulatory clarity is essential to protect consumers and allow these proven models to continue supporting both workers and businesses.” Lefton's testimony highlights the real-world impact of EWA for millions of American workers and underscores the importance of a clear and consistent regulatory framework that reflects how EWA products function and how workers use them. Today’s testimony builds on IPA’s longstanding engagement with policymakers on EWA, including the recent testimony of IPA President and CEO Brian Tate before the CFPB’s Consumer Advisory Board calling for a clear, consistent regulatory framework that reflects how EWA products function in practice. EWA allows employees to access wages they have already earned before their scheduled payday, helping them manage cash flow gaps and unexpected expenses. As policymakers consider the future of EWA, the IPA continues to emphasize the importance of regulatory approaches that recognize the true nature of EWA as a way for employees to access their wages, rather than treating it as a credit product. The IPA emphasizes that Chairman Steil's dedication to advancing solutions that provide long-term stability for the entire EWA ecosystem is crucial. Clear statutory and regulatory guidance, the IPA notes, is critical to preserving access to EWA for millions of Americans who face income volatility. Stream is a member of the IPA Board of Directors and for years has worked closely with the association on EWA policy. Stream and IPA share a commitment to advancing responsible EWA policies that support workers’ financial wellbeing while providing practical benefits for millions of working-class Americans. “Today’s testimony is an important step toward a more stable regulatory environment for earned wage access,” Tate added. “The IPA looks forward to continued engagement with Congress, regulators, and industry leaders to support policies that reflect the realities of EWA and the needs of hard-working Americans.” About the Innovative Payments Association (IPA) The Innovative Payments Association is the leading voice of the electronic payments sector, representing companies offering prepaid, mobile, and emerging payment technologies to consumers, businesses, and governments. The IPA advocates for policies that promote financial inclusion, innovation, and consumer protection. Learn more at ipa.org or follow us on LinkedIn. IPA applauds the CFPB for clarifying earned wage access is not credit, protecting workers’ access to earned wages while supporting innovation.
The Innovative Payments Association (IPA) praised the Consumer Financial Protection Bureau (CFPB) for issuing today’s Advisory Opinion (AO) on Earned Wage Access (EWA). The AO delivers much-needed clarity on the fundamental nature of EWA products, how workers use them, and how federal law applies to them. The CFPB acknowledged that properly tailored EWA programs are not credit products. “This clear statement from the CFPB is a win for workers, their employers, and EWA innovators alike,” said Brian Tate, IPA President and CEO. “We thank Acting Director Vought and the CFPB for its common-sense approach to EWA. They have reaffirmed what millions of American workers already understand. EWA products are not loans because their wages are owed to them, and EWA products do not share characteristics with credit products. This clarification ensures that American workers can continue to safely access their earned wages without being pushed toward higher-cost alternatives.” The CFPB’s EWA Advisory Opinion represents an important milestone for millions of American workers and the businesses that serve them. By recognizing that EWA allows employees to access wages they have already earned, the Bureau has affirmed a common-sense approach that protects consumers while supporting innovation and financial inclusion. EWA products provide employees with the ability to access a portion of their earned income before payday, offering a responsible alternative to payday loans, overdraft fees, and other costly financial products. The CFPB’s recognition validates what industry leaders, bipartisan policymakers, and consumer advocates have long understood: that earned wage access is an income-smoothing tool, not a loan. In short, EWA provides consumers with a direct way to manage unexpected expenses by using their already-earned wages. Since paydays and bills don’t always align, EWA gives workers a crucial tool to manage their finances. Since 2019, the IPA has been home to pioneering EWA providers who have worked diligently to inform regulators about the fundamental characteristics and profound benefits of earned wage access. “This clarification would not have been possible without the tireless dedication of our IPA members,” Tate emphasized. “Their efforts have not only helped provide American workers with crucial liquidity but have also saved them from millions of dollars in fees, truly making a contribution to workers’ financial wellness.” Tate noted the AO was a first step in a new effort to ensure EWA products are regulated in a manner that protects workers and recognizes the fundamental characteristics of the products. “The IPA looks forward to working with regulators across the country and thanks pro-worker policymakers like Congressman Bryan Steil (R-WI) who continue to press for enduring statutory solutions.” About the Innovative Payments Association (IPA) The Innovative Payments Association is the leading voice of the electronic payments sector, representing companies offering prepaid, mobile, and emerging payment technologies to consumers, businesses, and governments. The IPA advocates for policies that promote financial inclusion, innovation, and consumer protection. Learn more at ipa.org or follow us on LinkedIn. IPA’s Brian Tate testifies before the CFPB, underscoring earned wage access as a vital tool for consumers and calling for clearer regulatory guidance.
The Innovative Payments Association (IPA) announces that its President and CEO, Brian Tate, will testify before the Consumer Financial Protection Bureau’s (CFPB) Consumer Advisory Board today. Tate will provide insight into the current state of small-dollar financial products, emphasizing that earned wage access (EWA) is a tool that can support consumer financial stability. The CFPB convened the session to examine how workers navigate liquidity challenges and the tools that help bridge timing gaps between pay cycles and financial obligations. Tate’s remarks underscore the essential role that EWA plays in giving consumers flexible, low-cost access to wages they have already earned, and the importance of restoring regulatory clarity that preserves this access. “As more Americans face mismatches between when bills are due and when wages are paid, it is critical that they have access to safe and affordable financial tools,” Tate notes in his prepared testimony. “Earned wage access is not credit. It is a mechanism that allows individuals to access funds they have already earned, without creating debt or requiring a credit check.” For nearly a decade, policymakers across parties and administrations have recognized that responsibly structured EWA programs are distinct from traditional credit. This testimony continues the IPA’s long record of leadership on the issue, building on years of engagement with regulators, Congress, and other stakeholders to ensure workers can safely access wages they have already earned. As Tate highlights in his remarks, returning to straightforward guidance is critical to protecting access to EWA, supporting market innovation, and aligning regulatory oversight with how these products function in the real world. Tate’s invitation to speak before the Advisory Board reflects IPA’s position as a leading voice for the evolving payments ecosystem and its ongoing commitment to advancing solutions that promote financial inclusion, encourage responsible innovation, and support consumer well-being. About the Innovative Payments Association The Innovative Payments Association (IPA) is the leading voice of the electronic payments industry, representing prepaid products, mobile wallets, and P2P payment technologies for consumers, businesses, and governments. IPA works to advance the adoption of electronic payments, promote financial inclusion, and advocate for the industry before legislative and regulatory bodies. The AI compliance environment in financial services is evolving fast, but while the EU moves full steam ahead with clear enforcement mandates, the U.S. landscape remains fragmented and unpredictable.
From the EU AI Act’s enforcement rollout to mounting pressure from NYDFS, CFPB, and the SEC, the demand for explainable, auditable, and legally defensible AI systems is growing. But here in the U.S., the picture is far less clear, as the second Trump Administration pushes for rapid AI adoption while scaling back federal rulemaking. With so much uncertainty ahead, ACI’s Inaugural AI & RegTech in Financial Services Summit is an essential forum for financial institutions to make sense of what’s happening and what’s next. IPA’s Brian C. Tate (President & CEO) will be presenting on Day 2’s session: Cryptocurrency and Stable Coin: Compliance After a Federal Framework. Hear from regulators, GCs, compliance officers, and RegTech innovators. Walk away with practical strategies to:
Full information about the event can be found at: http://bit.ly/4nIuvZQ Contact Info: Katrina Savarino About American Conference Institute A unique organization, American Conference Institute is devoted to providing the business intelligence that senior decision-makers need to respond to challenges both here in the U.S. and around the world. Staffed by industry specialists, lawyers and other professionals, American Conference Institute operates as a think-tank, monitoring trends and developments in all major industry sectors, the law, and public policy, with a view to providing information on the leading edge. |
Media ContactHeather McElrath Archives
July 2026
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