Mitria Spotser, vice president and director of federal policy at the Center for Responsible Lending, called for more regulations with regard to EWA and BNPL. “If it looks like a duck, swims like a duck, and it quacks like a duck, it’s probably a duck,” she said. “Buy now, pay later, early wage access – they look, act and function like credit. They look and function and act like capital and loans. They should be regulated as such.”
