To embed, copy and paste the code into your website or blog: Earlier this week, California' Department of Financial Protection & Innovation announced that it had entered into memorandums [sic] of understanding with five earned wage access companies. If you haven't heard of a "earned wage access company" until now, the DFPI's press release explains that these companies "give employees access to wages they have earned but haven’t yet received through their employer payroll, a service that providers say can help employees pay their bills on time or cover unexpected expenses without overdraft charges or credit card fees, and can be an alternative to payday lending". According to the MOUs, employees do not get an advance of the full gross amount of their earned wages. Rather, employees receive a "limited to a portion thereof".