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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 Representative Delnicki and others who said they supported advancing it for continued work. Delnicki said there is “an opportunity” to get a product that is fair and useful to people who need EWA services. The committee chair and other members reiterated that consumer protection remains the primary concern as negotiations continue.
Lawmakers identified two unresolved issues that require more work before a final policy is agreed: how EWA providers must track and report data to regulators, and whether to include an income-level cutoff tied to a 75% threshold. The committee and staff said they had not reached final conclusions on those points and asked parties to return with proposals the legislature can evaluate.
A motion to “JF to the floor” (send the bill to the full chamber for consideration) was made by Senator Miller and seconded by Senator Bridal. The clerk called the roll and several members were recorded voting yes; the committee also announced that votes would be held open until 2:00 p.m. to accommodate members in other parts of the building. The committee’s action sends SB1396 forward while leaving its key contentious provisions open for further negotiation.
The committee and members asked that the Department of Banking continue to represent consumer interests in talks with providers. No statutory citations were referenced during the discussion; industry participants were named generically in testimony but specific external documents were not introduced during the committee debate.
Votes on the motion were recorded by roll call and the clerk said the votes would remain open until 2:00 p.m. to allow additional members to register their positions.
Looking ahead, sponsors and advocates were urged to continue discussions with staff and regulators so that, if possible, the committee can converge on final language before floor action.
