Barefoot Innovation Podcast

In this special live episode, Jo Ann Barefoot, CEO and Co-founder of AIR, hosts a panel discussion on the emerging landscape of Earned Wage Access (EWA). Daniel Gorfine, CEO and founder of Gattaca Horizons, provides an overview of AIR's new white paper on EWA, detailing its potential to mitigate harms associated with traditional financial products while also posing unique regulatory challenges. The discussion covers various EWA models, including employer-sponsored and direct-to-consumer, and their rapid growth. Panelists Jeff Stoltzfoos, VP of Government and Public Affairs at Chime, and Penny Lee, CEO of the Financial Technology Association, share insights into their respective organizations' approaches to EWA and discuss the complexities of navigating the evolving regulatory environment at both the state and federal levels. Key topics include the non-recourse nature of EWA, consumer benefits and risks, the impact of open banking, and the challenges of varying state regulations. The panel also addresses the debate around defining EWA as credit, the role of voluntary tips, and the overall impact on consumer financial wellness. This episode provides a comprehensive look at the current state and future of EWA, highlighting the need for regulatory clarity and consumer protection in this rapidly growing sector.

More on Jeff Stoltzfoos

Jeff is an experienced financial services executive and policymaker having worked at the Treasury Department, Senate Banking Committee and in the private sector for and on behalf of financial institutions. At the Treasury Department in 2007, Jeff led on the development of The Blueprint for a Modernized Financial Regulatory Structure, which called for the creation of a single consumer protection regulator. Jeff earned a BA from Franklin and Marshall College and a law degree from the Columbus School of Law at The Catholic University of America.

More on Penny Lee

Penny Lee is a proven leader in the financial technology sector. She serves as the first President and CEO of the Financial Technology Association (FTA), one of the leading global fintech trade associations. Under her guidance, FTA has become a key player in shaping U.S. fintech policy and regulatory issues and a hub for leaders shaping the future of finance. Before joining FTA, Penny spent her career advising public officials, Fortune 500 companies, enterprising startups, and non-profits with strategic positioning, political strategy, brand identity, and advocacy.

More on Daniel Gorfine

Daniel Gorfine is the founder of Gattaca Horizons, a boutique advisory firm. Daniel also currently serves as an Adjunct Professor of Law at the Georgetown University Law Center and is a co-founder of the non-profit Digital Dollar Project. Daniel is senior policy advisor to the Financial Technology Association (FTA) and Cloud Service Provider-Advisory Board (CSP-AB). He previously served as the U.S. Commodity Futures Trading Commission’s (CFTC) first Chief Innovation Officer and Director of LabCFTC, where he developed and led the Commission’s new technology innovation effort focused on informing policy and helping the Agency keep pace with modern, digital markets.

Prior to the CFTC, Daniel was Vice President, External Affairs & Associate General Counsel at OnDeck. Daniel also previously served as Director of Financial Markets Policy and Legal Counsel at the Milken Institute think tank, and earlier in his career was an associate at the international law firm Covington & Burling LLP. Daniel also served a clerkship with U.S. District Court Judge Catherine C. Blake in the District of Maryland.

A graduate of Brown University (A.B.), Daniel holds a J.D. from George Washington University Law School and an M.A. from the Paul H. Nitze School for Advanced International Studies (SAIS) at Johns Hopkins University.

More for Our Listeners

We have wonderful episodes coming up. We’ll have a discussion with Saket Narayan of AWS, discussing modern technology applications needed by regulators. We have a show with Neya Narkhede of Oscilar exploring how AI can help manage fraud risk, and a fascinating discussion with Aishah Ahmad on digital financial services consumer protection in West Africa. 

On April 17th I will participate in a panel at George Mason University exploring how to modernize financial regulation and create economic stability in the digital age. In May you can find me at the CSBS/AARMR Mortgage Policy Summit 2025 in Washington, DC.

As noted before, we’re also planning some special shows exploring the big issues arising as the new administration takes office in the U.S., especially with its focus on technology and efficiency, on fintech, on crypto, on fraud and crime, and on the future of community banks.