On July 18, the Consumer Financial Protection Bureau released for public comment a new Interpretive Rule under the Truth in Lending Act to promote price transparency for Earned Wage Access products. Rain believes that, overall, the CFPB’s proposed Interpretive Rule is a healthy development for the ecosystem of EWA products. Our commitment to price transparency for users is aligned with the Proposed Rule, and demonstrates our leadership in the EWA industry to “compete on clarity, not confusion,” as Director Chopra stated. Rain is prepared to meet the emerging requirements of Regulation Z, as will be further clarified in the CFPB’s eventual, final interpretive rule. Read more from our General Counsel and Chief Compliance Officer, Tom Scanlon. https://lnkd.in/gAvQXpby
Rain
Financial Services
Santa Monica, CA 20,651 followers
Earned wages delivered before payday + dozens of other financial wellness benefits at no cost.
About us
Rain provides employers a benefit that can be offered to employees to access their earned wages. This benefit has already been rolled out to hundreds of companies located world-wide. Our mission is to regrow individual freedom by giving people control over their income and finances. We are killing predatory financial products like payday loans and overdraft fees. We’re backed by QED, a leading venture capital firm based out of Alexandria, Virginia, which has invested in notable companies like Credit Karma, ClearScore, Creditas, and many more. Our founders are highly experienced and excited about bringing greater financial freedoms to workers and being a large part of the movement to end payday loans with high-interest rates. Last year, Americans spent $170B while waiting for their next paycheck. Fees for payday loans, credit cards, overdrafts, and low balances add up. 63% of Americans who are living paycheck-to-paycheck are stuck in this debt trap and could benefit from early wage access. How does Rain work? Rain is free and easy for employers to implement. When an employer agrees to work with Rain, employees are invited to download the free Rain Instant Pay app from the Apple or Google app store. The employees will have early access to portions of their wages. Rain keeps its lights on by charging a small transaction fee, similar to an ATM fee. Will you join us in our fight to end predatory financial practices and promote financial health?
- Website
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https://www.rainapp.com
External link for Rain
- Industry
- Financial Services
- Company size
- 201-500 employees
- Headquarters
- Santa Monica, CA
- Type
- Privately Held
- Founded
- 2019
- Specialties
- fintech, financial services, finance, financial wellness, payroll, hr, financial literacy, personal finances, app, finance app, payroll app, employee benefits, and employee benefit
Locations
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Primary
Get directions
Santa Monica, CA 90291, US
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Get directions
Nashville, TN, US
Employees at Rain
Updates
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We're at Breakthroughs: A Premier Inc. Conference Experience and excited to meet you! Drop by booth #1413 to see why Premier Inc. employers are loving our Earned Wage Access solution. Let's chat about how Rain can benefit your organization.☔ #EWA #EarnedWageAccess #HRTech #Breakthroughs24 #Premier
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Rain reposted this
🚀 Webinar Alert: Revolutionize Your Payroll Strategy We’re excited to announce our upcoming webinar, Introduction To Earned Wage Access With Rain, presented by Benjamin Cheetham, Senior Partner Manager at Rain Instant Pay. Learn how this groundbreaking concept benefits both employers and employees! 📅 August 14, 2024 | 12:00 PM - 12:45 PM (Pacific Time) Topics include: ✅ Benefits of earned wage access ✅ Commercial model insights ✅ Adoption and implementation tips Certifications: Valid for .75 PDC for SHRM-CPSM or SHRM-SCPSM. Pre-approved for .75 HR (General) recertification credit hour toward various HR certifications through HRCI®. Registration Rates: Free for all PIHRA Members and Guests 🔗 Don't miss out – register today: https://lnkd.in/gDawRR-r #HR #ProfessionalDevelopment #EarnedWageAccess #RainInstantPay #PIHRA
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Earned Wage Access provides employees with the financial flexibility they deserve. For a more financially stable and empowered workforce, contact Rain today to learn more about EWA. Chat with Rain today: https://lnkd.in/e2XwEwQY #EWA #EarnedWageAccess #HRTech
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Life doesn't wait for payday, and now your employees don't have to either. Rain empowers your workforce with instant access to their earned wages during financial pinches. To learn more about how Rain can benefit your workforce, contact us today. https://lnkd.in/e2XwEwQY #EWA #EarnedWageAccess #HRTech
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📢 Rain is attending the YMCA CHRO Conference in Tulsa! We’ll be on-site ready to connect with you about the benefits of Earned Wage Access. Let us know if you’ll be there! #EWA #EarnedWageAccess #HRTech #YMCACHRO
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We're excited to announce that Rain has been awarded G2 badges for Summer 2024 in the Earned Wage Access (EWA) category! 🏆 Easiest to Use 🏆 High Performer These awards highlight our dedication to delivering a user-friendly and high-quality EWA solution for businesses and their employees. Thank you to our customers for your trust and feedback. Curious why G2 users rate us so highly? Set time with an EWA expert to learn how Rain can make a real difference for your business. #EWA #EarnedWageAccess #HRTech #G2Awards
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Rain reposted this
𝗜𝗻𝘁𝗲𝗿𝗲𝘀𝘁𝗲𝗱 𝗶𝗻 𝗘𝗪𝗔 𝗮𝘀 𝗮 𝗯𝗲𝗻𝗲𝗳𝗶𝘁 𝗳𝗼𝗿 𝘆𝗼𝘂𝗿 𝗲𝗺𝗽𝗹𝗼𝘆𝗲𝗲𝘀? In this on-demand webinar, our Founder & CEO Bruce Belvin hosted Rain's VP, Employer Partnerships Jen Terrell discuss: ➞ The need that Earned Wage Access addresses ➞ How to navigate the landscape of EWA providers ➞ The value it delivers to hiring, productivity, and retention ➞ Steps to implementing a successful program ➞ How Rain's EWA model works ➞ The value of OneDataSource's native integration with Rain They also answered pressing EWA questions from attendees. Jen shared her insight about navigating EWA regulations and compliance, the empirical data supporting the value of EWA, average EWA fees to employees, and why it makes sense to work directly with an EWA vendor. 🔗 𝙔𝙤𝙪 𝙘𝙖𝙣 𝙙𝙞𝙧𝙚𝙘𝙩𝙡𝙮 𝙖𝙘𝙘𝙚𝙨𝙨 𝙩𝙝𝙚 𝙬𝙚𝙗𝙞𝙣𝙖𝙧 𝙖𝙩 𝙩𝙝𝙚 𝙡𝙞𝙣𝙠 𝙞𝙣 𝙩𝙝𝙚 𝙘𝙤𝙢𝙢𝙚𝙣𝙩𝙨. #earnedwageaccess #ewa #franchisees #qsr
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📢 Rain is attending the Premier Inc. Breakthroughs 24 conference in Maryland! We’ll be on-site at booth #1413 ready to connect with you about the benefits of Earned Wage Access. Let us know if you’ll be there! #EWA #EarnedWageAccess #HRTech #Breakthroughs24
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Earned Wage Access providers must prioritize transparency with employers. This essential read guides you in evaluating their compliance, ensuring you're not misled or sidetracked. Learn how different services used by providers can help you evaluate their compliance with Earned Wage Access regulations. Read more: https://lnkd.in/egX-YE5G #EWA #EarnedWageAccess #HRTech
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