The American Fintech Council (AFC) has expressed approval following the signing of HB 279 by Governor Cox, a law aimed at establishing a framework for Earned Wage Access (EWA) services in Utah. The AFC CEO, Phil Goldfeder, praised the governor's dedication to consumer financial choice.
Goldfeder stated, "The American Fintech Council applauds Governor Cox and his steadfast commitment to consumer financial choice by signing HB 279, a law that creates a clear, balanced framework for Earned Wage Access (EWA) services that protects consumers while preserving access to critical tools that empower Utah workers to take greater control of their finances."
He emphasized the AFC's role in supporting this legislation and leading a coalition of EWA providers who encouraged the governor to sign the bill. According to Goldfeder, "Our coalition letter, submitted earlier this month, reflected a strong industry commitment to standards such as transparent fee disclosures, non-recourse, voluntary no-cost options, and protections that ensure consumers remain in control of their finances."
With this new law in place, Goldfeder remarked on Utah's position as a leader in fintech regulation and innovation. He added appreciation for the leadership shown by Governor Cox and those who sponsored the bill: "We thank Governor Cox and the bill sponsors for their leadership and look forward to continued engagement on policies that expand access to safe, transparent, and consumer-focused financial services."