Why is PayOnDemand not available in Connecticut?
Connecticut introduced respective regulations that classify earned wage access products, such as PayOnDemand and the Fingercheck PayCard as small loan lending, triggering the need for additional disclosures and filings. As such this impedes Fingercheck's ability to offer these products to residents of Connecticut.
Does this affect nurses who work in Connecticut but reside in another state?
No, the law only applies to employees who reside in Connecticut. Nurses who work in Connecticut but live elsewhere are not affected.
Is there a possibility that the PayOnDemand feature will be re-enabled in Connecticut in the future?
Fingercheck is monitoring the regulatory landscape and will inform us if there are any changes.
Are there any other states where the PayOnDemand feature might be disabled?
The company's legal counsel has confirmed that no other state poses a concern regarding the PayOnDemand feature, except for Connecticut.