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Bill

Bill

S 3102

Creates certain requirements for certain earned income access services and related provider contracts.

2026-2027 Regular Session Introduced by Benjie Wimberly

New Jersey bill regulating earned income access services, establishing contract requirements and operational standards for wage-advance financial products.

Introduced in the Senate, Referred to Senate Commerce Committee
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WeVote Research Nonpartisan
Bill Summary · S 3102

Legislative bill overview

S 3102 establishes regulatory requirements for "earned income access services" (EIAs) — financial products that allow workers to access wages they've already earned before the regular payday. The bill sets standards for how these services operate and what provider contracts must include.

Why is this important

Earned income access services have grown as alternatives to payday loans, but lack consistent regulation. This bill addresses a gap in consumer protections for a growing financial product that millions of workers use, while also potentially affecting small businesses and payroll service providers who offer these features.

Potential points of contention

  • Consumer protection vs. market innovation: Stricter requirements may increase costs and reduce service availability, or alternatively may provide necessary protections against predatory practices
  • Fee structures and affordability: The bill's approach to regulating fees could either protect low-income workers or limit their access to emergency funds
  • Employer burden: Requirements for provider contracts and employer participation may create administrative costs for small and mid-sized businesses
  • Definition scope: Exactly which financial products qualify as "earned income access services" will determine the bill's actual reach and enforceability

Compiled from official sources — confirm details with the bill’s official record.

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