Core Insights - DailyPay has appointed Nelson Chai as its new CEO after he served as a director for 10 months, indicating a strategic shift towards employee financial wellness [1][2] Company Leadership - Nelson Chai, previously the CFO of Uber Technologies and with experience at Merrill Lynch and the New York Stock Exchange, is expected to lead DailyPay into a new growth phase [2][3] - Chai succeeds Stacy Greiner, who led the company for 18 months and will continue as an adviser [4] Industry Context - DailyPay operates in the earned wage access (EWA) sector, allowing workers to access earned wages before payday, with various providers charging fees or receiving interchange fees [3] - The EWA industry is facing increasing regulation at the state level, prompting calls for federal oversight to address varying state laws [4] Legal Challenges - DailyPay is currently facing a lawsuit from New York Attorney General Letitia James, alleging illegal and deceptive practices that violate state usury laws [6]
DailyPay replaces CEO
Yahoo Finance·2025-10-02 14:03