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House committee hears earned-wage access bill; supporters and consumer advocates urge more safeguards
Summary
House Bill 1125 would license and regulate earned-wage access (EWA) providers in Indiana. Supporters, including large EWA vendors and employer-integrated firms, said the bill adds consumer protections and legal clarity; consumer advocates recommended adding caps, APR disclosure and a centralized verification system to limit repeat borrowing.
House Bill 1125, a proposed licensing and oversight framework for earned-wage access (EWA) services, was presented to the House Financial Institutions Committee and received extended testimony from advocates, industry providers and consumer groups. Committee members held the bill for further amendment and invited follow-up discussions.
Representative Teska (Chairman of the committee) opened the bill by describing EWA as a product that "gives workers access to the money that they've already earned," and said the bill would require licensing, ban credit checks and credit reporting, prohibit late fees and interest, and require a no-cost transfer option.
Consumer advocates voiced guarded support for licensing but pressed for stronger protections. Erin Macy, director of the Indiana Community Action Poverty Institute and co-chair of Hoosiers for…
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