Lawmakers are partnering with an ultraconservative, billionaire-backed bill mill to make it easier for financial technology companies to rip off workers trying to access paycheck advances through their smartphones. 

The American Legislative Exchange Council, a nonprofit organization known for drafting model bills pushing pro-corporate, right-wing causes, is circulating a legislative template to establish industry-favored regulations for “earned-wage access” providers — a new app-based financial technology that provides cash advances to users by letting them access their paycheck before they’re issued.

Although many financial technology companies claim these products are a new innovation, earned-wage access products are similar to predatory payday loans, which have faced strict regulations and bans in a number of states due to high fees and harsh repayment plans. Payday loans have often targeted low-income communities, and people’s inability to repay them can create debt spirals and lead to lower credit scores, repossessions, and court hearings, among other disastrous consequences.