{"id":11780,"date":"2023-09-24T13:59:26","date_gmt":"2023-09-24T13:59:26","guid":{"rendered":"http:\/\/lonecandle.com\/?p=11780"},"modified":"2023-09-24T13:59:26","modified_gmt":"2023-09-24T13:59:26","slug":"why-so-many-people-are-paying-to-get-their-paychecks","status":"publish","type":"post","link":"https:\/\/lonecandle.com\/?p=11780","title":{"rendered":"Why so many people are paying to get their paychecks"},"content":{"rendered":"\n<p>\n\n&#8220;The early wage access industry has emerged because so many Americans aren\u2019t paid enough, and they aren\u2019t paid quickly enough. There\u2019s frequently a lag of several days between when employees complete their work and when they get paid, making many workers reach for early pay apps.<\/p>\n\n\n\n<p>The US still largely lacks the ability to make instant, real-time payments between bank accounts \u2014 a technology that\u2019s widely&nbsp;<a href=\"https:\/\/www.frbservices.org\/financial-services\/fednow\/instant-payments-education\/trending-world-faster-instant-payments.html\" target=\"_blank\" rel=\"noreferrer noopener\">available<\/a>&nbsp;in many other countries \u2014 which means it can take longer for workers to get paid. Slow bank payments \u201chave very significant wealth effects for low-wage workers,\u201d said Elena Botella,&nbsp;<a href=\"https:\/\/www.ucpress.edu\/book\/9780520380356\/delinquent\" target=\"_blank\" rel=\"noreferrer noopener\">author of&nbsp;<em>Delinquent: Inside America\u2019s Debt Machine<\/em><\/a>. Fintech companies have stepped in to fill that void with early wage apps, offering workers faster access to their earnings for steep fees.&#8221;<\/p>\n\n\n\n<p><a href=\"https:\/\/www.vox.com\/future-perfect\/23863440\/early-earned-wage-access-apps-payday-loans-regulation-earnin-moneylion-dailypay\">https:\/\/www.vox.com\/future-perfect\/23863440\/early-earned-wage-access-apps-payday-loans-regulation-earnin-moneylion-dailypay<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;The early wage access industry has emerged because so many Americans aren\u2019t paid enough, and they aren\u2019t paid quickly enough. There\u2019s frequently a lag of several days between when employees complete their work and when they get paid, making many workers reach for early pay apps.<br \/>\nThe US still largely lacks the ability to make instant, real-time payments between bank accounts \u2014 a technology that\u2019s widely available in many other countries \u2014 which means it can take longer for workers to get paid. Slow bank payments \u201chave very significant wealth effects for low-wage workers,\u201d said Elena Botella, author of Delinquent: Inside America\u2019s Debt Machine. Fintech companies have stepped in to fill that void with early wage apps, offering workers faster access to their earnings for steep fees.&#8221;<\/p>\n<p>https:\/\/www.vox.com\/future-perfect\/23863440\/early-earned-wage-access-apps-payday-loans-regulation-earnin-moneylion-dailypay<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[13],"tags":[574],"class_list":["post-11780","post","type-post","status-publish","format-standard","hentry","category-article-share","tag-workers"],"_links":{"self":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts\/11780","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=11780"}],"version-history":[{"count":1,"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts\/11780\/revisions"}],"predecessor-version":[{"id":11781,"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts\/11780\/revisions\/11781"}],"wp:attachment":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11780"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11780"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11780"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}