Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Committee approves bill to regulate earned-wage access providers as lenders
Summary
The House Banks and Banking Committee voted to pass House Bill 241, which clarifies that earned-wage access (EWA) products offered as loans fall under existing Georgia lending laws and permits a convenience fee up to $5 for instant transfers by licensed lenders.
The Georgia House Banks and Banking Committee voted to pass House Bill 241, a proposal to treat certain earned-wage access (EWA) products as loans regulated under Georgia lending statutes and to permit a convenience fee of up to $5 for instant transfers by licensed lenders.
The measure aims to provide regulatory clarity for EWA services—products that let workers access wages as they earn them rather than waiting for payday—by explicitly allowing providers that classify their advances as loans to operate under the state’s existing lending framework.
Chairman Trey Rhodes said the bill “provides regular regulatory clarity for certain types of earned wage access in Georgia and enhances consumer…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
