Biden’s Treasury pick — Privacy concerns for on-demand pay — Legal-tech deals

Happy Friday!

It’s been quite the week, which is often the case this time of year as people look to wrap things up before the holidays. However, one big bit of news could still be yet to come.

President-elect Joe Biden told reporters he’s made his pick for who he will nominate for Treasury secretary, adding that the decision will be announced “either just before or just after Thanksgiving.”

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Privacy concerns over early-paycheck cashouts

Earned wage access, or the ability to pay employees as they earn money as opposed to during set pay periods, is all the rage these days.

What started off as a fringe offering by a handful of startups has evolved into a red-hot trend that even the biggest payroll providers are offering.

However, one major issue remains: Employees don't want their employers knowing they want early access to their wages.

Shannen Balogh has a really nice look at customers' fears over privacy, and how EWA providers are looking to assuage those fears.  

Click here to read the entire story.

Affirm's IPO paperwork shows Peloton sales are a crucial part of the buy now, pay later fintech's business

We touched on this briefly on Thursday, but the Affirm, Max Levchin's buy now, pay later startup, posted the paperwork for its initial public offering, known as an S-1. One interesting detail: A good chunk of Affirm's revenue is tied to Peloton sales. Read more from Shannen Balogh here.