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Opinion: Black Workers Depend on Same-Day Pay. Why is Gov’t Trying to Restrict It?

It’s no secret that too many Americans are living paycheck to paycheck. What appears to be a secret is that an industry that is casting lifelines to those in need is being blocked by state and federal regulators. The industry in question is Earned Wage Access (EWA). EWA is an innovative fintech solution that empowers workers and helps them pay bills on time by accessing wages they’ve already earned. A 2021 study found that EWA services often prevent consumers from missing bill payments and slipping further into debt.

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Jay King is CEO of the California Black Chamber of Commerce.
Jay King is CEO of the California Black Chamber of Commerce.

Jay King, Special to California Black Media Partners

It’s no secret that too many Americans are living paycheck to paycheck. What appears to be a secret is that an industry that is casting lifelines to those in need is being blocked by state and federal regulators.

The industry in question is Earned Wage Access (EWA). EWA is an innovative fintech solution that empowers workers and helps them pay bills on time by accessing wages they’ve already earned. A 2021 study found that EWA services often prevent consumers from missing bill payments and slipping further into debt.

Despite the many benefits and the fact that businesses all across the country, including Paychex, now offer EWA to employees, the Consumer Financial Protection Bureau (CFPB) recently issued guidance that could effectively wipe out this tool and, in the process, let struggling families, already in jeopardy, drown even deeper in debt.

The numbers tell the story. According to a recent study, 66% of Americans report living paycheck to paycheck, while 40% report being unable to afford a $400 emergency expense. They face hardship paying bills, covering financial emergencies, and otherwise making ends meet. These aren’t just workers with minimum-wage jobs either; half of those U.S. consumers facing hardship earn more than $100,000 per year.

This dynamic is especially pernicious in the Black community. According to recent figures, Black Californians currently have the lowest household income of any major racial or ethnic group in the state. Research also indicates that nearly a third of Black families are late paying their debts and 42% use credit cards just for basic living expenses while half do so to send their kids to college.

EWA is ready to support these individuals, yet the CFPB seems to think these services are just loans masquerading as something new. Not only is this wrong, but the agency’s interpretive guidance reverses their previous guidance and contradicts the established language and interpretation of the Truth in Lending Act (TILA).

This change could have a devastating impact on the very people it purports to protect. By categorizing EWA as loans, the CFPB would impose unnecessary regulations that stifle innovation and could drive consumers back toward high-cost payday lenders.

As I mentioned, the numbers tell the story, and EWA has an impressive track record. A recent study from Citizens Bank found that seven in 10 middle-market companies currently offer EWAs to employees, with more planning to do so in years to come. As it happens, few states better illustrate the value, and excellent ROI, of EWAs than California. Californians employed by Walgreens, Home Depot, FedEx Office and other businesses have accessed more than $1.67 billion in wages through EWA. Equally promising, more than half of consumers who tap into EWA can now afford a $400 emergency.

EWA services have always proven to serve the greater good, particularly in supporting underserved communities like the Black community, which is disproportionately affected by financial instability. The CFPB should take advantage of this opportunity to make sure they continue to do so, rather than creating obstacles that could undermine their effectiveness.

I urge the CFPB to rethink this misguided guidance. The agency must prioritize fairness and innovation to protect both consumers and the businesses that employ them.

About the Author

Jay King is CEO of the California Black Chamber of Commerce.

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Oakland Post: Week of March 4 – 10, 2026

The printed Weekly Edition of the Oakland Post: Week of March 4 – 10, 2026

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Oakland Post: Week of February 25 – March 3, 2026

The printed Weekly Edition of the Oakland Post: Week of – February 25 – March 3, 2026

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Chase Oakland Community Center Hosts Alley-Oop Accelerator Building Community and Opportunity for Bay Area Entrepreneurs

Over the past three years, the Alley-Oop Accelerator has helped more than 20 Bay Area businesses grow, connect, and gain meaningful exposure. The program combines hands-on training, mentorship, and community-building to help participants navigate the legal, financial, and marketing challenges of small business ownership.

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Bay Area entrepreneurs attend the Alley-Oop Accelerator, a small business incubation program at Chase Oakland Community Center. Photo by Carla Thomas.
Bay Area entrepreneurs attend the Alley-Oop Accelerator, a small business incubation program at Chase Oakland Community Center. Photo by Carla Thomas.

By Carla Thomas

The Golden State Warriors and Chase bank hosted the third annual Alley-Oop Accelerator this month, an empowering eight-week program designed to help Bay Area entrepreneurs bring their visions for business to life.

The initiative kicked off on Feb. 12 at Chase’s Oakland Community Center on Broadway Street, welcoming 15 small business owners who joined a growing network of local innovators working to strengthen the region’s entrepreneurial ecosystem.

Over the past three years, the Alley-Oop Accelerator has helped more than 20 Bay Area businesses grow, connect, and gain meaningful exposure. The program combines hands-on training, mentorship, and community-building to help participants navigate the legal, financial, and marketing challenges of small business ownership.

At its core, the accelerator is designed to create an ecosystem of collaboration, where local entrepreneurs can learn from one another while accessing the resources of a global financial institution.

“This is our third year in a row working with the Golden State Warriors on the Alley-Oop Accelerator,” said Jaime Garcia, executive director of Chase’s Coaching for Impact team for the West Division. “We’ve already had 20-plus businesses graduate from the program, and we have 15 enrolled this year. The biggest thing about the program is really the community that’s built amongst the business owners — plus the exposure they’re able to get through Chase and the Golden State Warriors.”

According to Garcia, several graduates have gone on to receive vendor contracts with the Warriors and have gained broader recognition through collaborations with JPMorgan Chase.

“A lot of what Chase is trying to do,” Garcia added, “is bring businesses together because what they’ve asked for is an ecosystem, a network where they can connect, grow, and thrive organically.”

This year’s Alley-Oop Accelerator reflects that vision through its comprehensive curriculum and emphasis on practical learning. Participants explore the full spectrum of business essentials including financial management, marketing strategy, and legal compliance, while also preparing for real-world experiences such as pop-up market events.

Each entrepreneur benefits from one-on-one mentoring sessions through Chase’s Coaching for Impact program, which provides complimentary, personalized business consulting.

Garcia described the impact this hands-on approach has had on local small business owners. He recalled one candlemaker, who, after participating in the program, was invited to provide candles as gifts at Chase events.

“We were able to help give that business exposure,” he explained. “But then our team also worked with them on how to access capital to buy inventory and manage operations once those orders started coming in. It’s about preparation. When a hiccup happens, are you ready to handle it?”

The Coaching for Impact initiative, which launched in 2020 in just four cities, has since expanded to 46 nationwide.

“Every business is different,” Garcia said. “That’s why personal coaching matters so much. It’s life-changing.”

Participants in the 2026 program will each receive a $2,500 stipend, funding that Garcia said can make an outsized difference. “It’s amazing what some people can do with just $2,500,” he noted. “It sounds small, but it goes a long way when you have a plan for how to use it.”

For Chase and the Warriors, the Alley-Oop Accelerator represents more than an educational initiative, it’s a pathway to empowerment and economic inclusion. The program continues to foster lasting relationships among the entrepreneurs who, as Garcia put it, “build each other up” through shared growth and opportunity.

“Starting a business is never easy, but with the right support, it becomes possible, and even exhilarating,” said Oscar Lopez, the senior business consultant for Chase in Oakland.

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