Text of Amendment (PDF) | Video of Committee Remarks (YouTube)

WASHINGTON – In a House Financial Services Markup, Congresswoman Ayanna Pressley (MA-07) proposed an amendment to ensure states have the authority to increase consumer protections for earned wage access products, also known as pay day loans. Rep. Pressley offered this amendment, which strikes the clause that preempts state action, to H.R. 9330, the Earned Wage Access Consumer Protection Act.

“Our constituents deserve more protection from predatory EWA, not less. This is a commonsense amendment that the federal framework can be a floor, but it should not be a ceiling that hinders states from acting in the best interests of its residents,” said Rep. Pressley during her remarks in committee markup. “This work has been important in districts like mine where the Attorney General’s office was able to secure more than $600,000 in restitution and debt relief for consumers who were victims of predatory earned wage products.”

Text of Rep. Pressley’s amendment is available here.

A transcript of Congresswoman Pressley’s remarks during debate is available below and the video is available here.

Transcript: Pressley Proposes Amendment to Allow States to Improve Consumer Protections for Pay Day Loans

House Financial Services Committee

June 30, 2026

Thank you, Mr. Chair.

My amendment would strike the clause that preempts state action.

It would ensure consumers are able to be protected by state laws and greater protections for earned wage access products.

My amendment clarifies that states have the authority to take action to improve consumers’ protections.

H.R. 9330 currently prevent states from calling earned wage access products what they actually are—pay day loans.

While these products are marketed as free to consumers, in reality these products function as loans and should follow the same rules.

Many states are taking action.

This work has been important in districts like my own, where the Attorney General’s office was able to secure more than $600,000 in restitution and debt relief for consumers who were victims of predatory earned wage products.

States have been leaders in protecting consumers using these products, and we should not stop them from doing this important work, especially when the proposed federal framework provides less protection than many states are offering.

—

Furthermore, when it comes to endorsement, I can’t enumerate every organization that is opposed to this bill.

But I will tell you there are 225 of them, and they represent labor and civil rights organizations and community groups ranging from the NAACP, to the NAACP Legal Defense and Educational Fund, to the National Association of Consumer Advocates, to the National Consumer Law Center.

—

Our constituents deserve more protection from predatory EWA, not less.

This is a commonsense amendment that the federal framework can be a floor, but it should not be a ceiling that hinders states from acting in the best interest of its residents.

I urge all members to vote yes on my amendment.

###