NEW YORK, April 27, 2022 /PRNewswire/ — DailyPay, a leading technology company on a mission to create a new financial system that works for everyone, has proudly joined the Financial Security Program of the Aspen Institute and a diverse coalition of nearly 40 other mission-driven organizations and companies in a letter call for the creation of a presidential commission on financial inclusion.
The purpose of the letter released today is to create a Presidential Commission that will bring together experts from the public and private sectors to establish a common vision for an inclusive and sustainable economy.
“We are proud to stand with the Aspen Institute and forward-thinking financial services companies on this incredibly critical endeavor that will support an inclusive financial system for all Americans,” said Matthew Koko, Vice President, Public Policy, DailyPay. “Financial inclusion is ingrained in the DNA of DailyPay, a mission-driven company that helps working America break free from cycles of debt caused by predatory lenders and overdraft fees through our technology platform. exclusive on-demand payroll.”
In partnership with major US employers, DailyPay strives to support the financial well-being of millions of workers through on-demand pay. With the power to choose and control their already earned wages, workers may be able to avoid payday loans and overdraft fees and have more control over their finances. With the DailyPay Balance, workers have transparency on how much they earn each day. This clarity can help people plan their financial lives.
“We are grateful for the leadership of the dozens of organizations that signed the letter calling for the creation of a presidential commission to develop a U.S. financial inclusion strategy,” said Ida Rademacher, Vice President of the Aspen Institute and Executive Director of the Financial Security Program. “Deep gaps in access to and use of key financial services must be closed so that families can access the wealth and prosperity generated by the American economy. A national strategy would help federal agencies and the financial sector financial services to understand their role in these persistent inequalities, develop coordinated strategies and create the tools needed to build a more inclusive financial system.”
A presidential commission would aim to create a national and inter-agency financial inclusion strategy. the request letter an approach to “ensure that every person in America has easy access to safe and affordable bank accounts, payment tools, savings and retirement accounts, credit, insurance and safety net in case of need”.
“We believe a Presidential Commission will help us translate our values of financial fairness and justice for all working Americans,” Kopko added.
About Daily Pay
DailyPay, Inc., powered by its cutting-edge technology platform, is on a mission to build a new financial system. Partnership with America’s top employers including Dollar Tree, Berkshire Hathaway and Adecco. DailyPay is the recognized benchmark for on-demand payment. With its vast data network, proprietary funding model and connections to over 6,000 banking system endpoints, DailyPay ensures that money is always in the right place at the right time for employers, merchants and financial institutions. DailyPay develops the technology and the mindset to reinvent the way money moves, from the start of work. DailyPay is headquartered in New York Citywith operations based in Minneapolis. For more information, visit www.dailypay.com/press.
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