Bill
LD 1915
Overview: LD 1915, An Act To Regulate Earned Wage Access Services Providers, Carry Over Approved, Introduced: May 06, 2025Purpose and Intent: This bill aims to establish a regulato
Overview: LD 1915, An Act To Regulate Earned Wage Access Services Providers, Carry Over Approved, Introduced: May 06, 2025
Purpose and Intent: This bill aims to establish a regulatory framework for Earned Wage Access (EWA) service providers operating in the state. EWA services allow employees to access a portion of their earned but unpaid wages before their scheduled payday, providing them with more financial flexibility and control.
Key Provisions:
- Requires EWA service providers to obtain a license from the state's Department of Banking
- Imposes requirements on EWA service providers, such as fee limitations, disclosure of terms and conditions, and data security measures
- Prohibits EWA service providers from engaging in certain practices, such as charging late fees or requiring mandatory usage of the service
Affected Parties and Impacts:
- Employees who use EWA services will benefit from increased consumer protections and transparency
- EWA service providers will need to comply with the new licensing and regulatory requirements to continue operating in the state
Procedural and Timeline Considerations:
- The bill has been approved for carry over, meaning it will be considered in the next legislative session
- If passed, the new regulatory framework for EWA service providers would take effect within 6 months of the bill's enactment
Compiled from official sources — confirm details with the bill’s official record.
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