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House committee hears bill to license earned‑wage access providers amid debate over fees and safeguards
Summary
Lawmakers heard hours of testimony on House Bill 1125, a proposal to create a licensing and oversight framework for earned‑wage access (EWA) services. Supporters said the bill protects access to wages with a mandatory no‑cost option; critics urged fee caps, APR disclosures, limits on ACH attempts and a centralized verification database to prevent
The House Financial Institutions Committee heard extensive testimony on House Bill 1125, legislation to license and regulate earned‑wage access (EWA) providers that let workers draw pay earned before a scheduled payday.
Representative (Chairman) Teschka, who presented the bill, said it seeks to create regulatory certainty and consumer protections for a product already used by hundreds of thousands of Hoosiers. The draft bill sets rules banning late fees and interest, forbids credit checks and credit reporting, requires transparency and mandates at least one no‑cost delivery option.
Supporters described EWA as a tool that helps workers avoid late fees and overdrafts. Ben LaRocco, senior director of government relations for EarnIn, said his company has served more than 100,000 Indiana users and that many customers use the service at no…
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