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Senate committee gives favorable report to earned-wage access bill SB281
Summary
A Senate committee gave SB281 a favorable report, 10-0, after sponsor Senator Shelnut presented the measure and DailyPay representative Gina Dearborn described the earned-wage access product.
A Senate committee gave SB281 a favorable report, 10-0, after sponsor Senator Shelnut introduced the bill and invited Gina Dearborn of DailyPay to describe the product.
SB281 would allow employers to offer earned-wage access, a financial-technology service that lets employees access wages they have already earned between pay periods. Senator Shelnut said the bill is first on the agenda and asked DailyPay to explain the measure.
Gina Dearborn, representing DailyPay, told the committee, “DailyPay is an earned wage access, it's a financial technology that allows an employee the option to access wages that they've already earned.” She described the product as an option for workers who need funds before the next pay date and said, “It's not a loan. There are no fees. There's no recourse. The only fee is if you want expedited delivery, which is immediately, then there's a $3.95 charge.”
The committee voted to give SB281 a favorable report by a 10-0 tally. Committee members announced the favorable report in open session; no amendments or conditions were recorded on the committee floor during the vote announcement.
The favorable report moves the bill forward in the legislative process; the transcript does not specify the committee's next procedural step or a floor calendar date.
Speakers in the record for SB281 included Senator Shelnut (sponsor) and Gina Dearborn (DailyPay representative).
