To regulate the business of offering and providing earned wage access services to consumers, and for other purposes.
Sponsors
Legislative Progress
ReportedAdditional sponsors: Mr. Donalds, Mr. Meuser, Mr. Barr, Mr. Luetkemeyer, …
Reported with an amendment, committed to the Committee of the …
Mr. Steil (for himself and Mr. Hill) introduced the following …
Summary
What This Bill Does
Requires earned wage access providers to offer free option alongside fee-based access to earned wages. Mandates comprehensive disclosures on limits, fees, and voluntary payments.
Who Benefits and How
- Workers get free access option for earned wages
- Consumers receive clear fee and limit disclosures
- Low-income workers protected from predatory fees
Who Bears the Burden and How
- Earned wage access providers must offer no-cost option
- Industry faces disclosure requirements
- Fintech companies adjust business models
Key Provisions
- Free access option required when fee option offered
- Disclosure of all limits on wage access amounts
- Clear fee information before agreement
- Overview of voluntary payment practices
Evidence Chain:
This summary is derived from the structured analysis below. See "Detailed Analysis" for per-title beneficiaries/burden bearers with clause-level evidence links.
Primary Purpose
Regulates earned wage access services requiring fee-free options and consumer disclosures
Policy Domains
Legislative Strategy
"Protect workers from predatory earned wage access fees"
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology