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![handle is hein.sag/sagga0105 and id is 1 raw text is:
DECEMBER 06, 2024
Unofficial Opinion U2024-1
To: The Honorable Trey Rhodes, District 124
Re: Earned Wage Access transactions, where consumers are
charged a fee to obtain a portion of wages in advance of the
employer's payment of wages, do not generally constitute
the imposition of interest where the fees are based on the
service of providing the funds and not based on the time
value of the funds transferred, are imposed solely for the
service of transferring the funds, and where the fees and the
transferred amount are advanced on a non-recourse basis.
This responds to your request for an unofficial opinion
regarding Georgia's usury law and the Georgia Payday
Lending Act. Specifically, you requested clarification
regarding whether certain transactions involving instant
transfer fees charged by Earned Wage Access (EWA)
providers would be considered interest under Georgia's
usury law and, consequently, under the Georgia Payday
Lending Act.[]]_(# ftn1).](ViewImageLocal?handle=hein.sag/sagga0105&div=1&collection=&method=preview&ext=.png&size=3)