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Banking committee advances earned-wage access bill for more negotiation
Summary
The Banking Committee voted to send SB1396 on earned-wage access (EWA) to the floor so regulators, industry and advocates can continue negotiations; members cited unresolved questions about data reporting and the bill’s 75% income threshold.
The Banking Committee voted Tuesday to send SB1396, a bill addressing earned-wage access (EWA) programs, out of committee to the floor to allow further negotiation among the Department of Banking, industry providers and advocates.
Committee Cochair Senator Miller said the industry and regulators have negotiated for years but have not reached consensus and urged the committee to advance the bill so stakeholders can meet again. “I’m gonna give you one more chance,” Miller said, adding that the committee should move the bill to let the parties return to the table with an open mind.
The bill drew comment from…
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