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Indiana’s On-Demand Pay Legislation Becomes Law
DailyPay, a worktech company and a leading provider of On-Demand Pay (also known as earned wage access), celebrates another regulatory achievement as Indiana becomes the latest state to sign into law legislation regarding the product.
Indiana’s HEA 1125 codifies the industry’s best practices into law, including recognizing that On-Demand Pay is a unique financial product, and mandating appropriate consumer protections. Indiana now joins multiple states across the country, including California, Nevada, Utah, Arkansas, Missouri, Kansas, and South Carolina, which have also taken affirmative steps to ensure appropriate regulation is in place for the product.
“We applaud Indiana legislators for responding to the realities facing working people in the state and ensuring continued access to a crucial financial option with common-sense guardrails that allow consumers and businesses to benefit,” said Ryan Naples, Vice President of Public Policy, DailyPay. “We especially thank Governor Braun for signing the bill into law, as well as bill sponsors Representative Jake Teshka and Senator Kyle Walker for leading the way.”
DailyPay remains dedicated to serving employers of all sizes and across all industries delivering innovative products and services that enhance workers’ financial lives. On-Demand Pay offers workers greater financial flexibility and control of their finances and is a safe and important alternative to late fees, overdraft fees or high-interest credit products. With the enactment of this measure, DailyPay looks forward to supporting Indiana employers and employees alike in achieving their financial goals.
DailyPay will continue to work with state and federal policymakers to ensure that the wide adoption of On-Demand Pay by employers, and the impactful financial wellness benefits it brings to their employees, are fully understood.
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