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Committee hears earned‑wage access bill; supporters and advocates seek added consumer safeguards
Summary
House Bill 1125, which would license earned‑wage access services and require at least one free transfer option, received hours of testimony from providers, consumer advocates and industry groups; lawmakers will hold the bill for amendment.
Lawmakers heard several hours of testimony on House Bill 1125, a bill that would create a licensing framework and consumer protections for earned‑wage access (EWA) services that let workers access wages they have already earned before regular payday. The committee took testimony from consumer advocates, EWA providers and industry trade groups and said it will hold the bill for amendment and continued discussion.
The bill’s sponsor, Chairman Teska, described the proposal as a tailored regulatory framework for a product that does not fit neatly into existing small‑loan or payday statutes. He said HB 1125 bans interest and late fees, prohibits credit checks and credit reporting, requires transparency and guarantees at least one cost‑free transfer option.
Supporters argue EWA is a low‑cost,…
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