SB579,15,18 16203.05 Interpretation; applicability. (1) (a) Notwithstanding any other
17provision of law, earned wage access services offered and provided by a licensee in
18compliance with this chapter shall not be considered to be any of the following:
SB579,15,2019 1. A violation of or noncompliance with s. 241.09 or other law of this state
20governing the sale or assignment of, or an order for, earned but unpaid income.
SB579,15,2221 2. A loan or other form of credit or debt, nor shall the provider be considered
22a creditor, debt collector, or lender with respect thereto.
SB579,15,2423 3. Money transmission, nor shall the provider be considered a money
24transmitter with respect thereto.
SB579,16,4
1(b) Notwithstanding any other provision of law, fees paid to a licensee in
2accordance with this chapter shall not be considered interest or finance charges. If
3there is a conflict between the provisions of this chapter and any other statute, the
4provisions of this chapter control.
SB579,16,6 5(2) Chapters 421 to 427 do not apply to proceeds a provider provides to a
6consumer in accordance with this chapter.
SB579,16,8 7(3) A voluntary tip, gratuity, or other donation paid by a consumer to a licensee
8in accordance with this chapter shall not be considered a finance charge.
SB579,16,12 9203.06 Reporting requirements; books and records. (1) On or before July
101 of each year, a provider required to be licensed under s. 203.03 (1) shall submit an
11annual report to the division that includes all of the following information related to
12earned wage access services the provider provided in this state during the prior year:
SB579,16,1313 (a) Gross revenue attributable to those earned wage access services.
SB579,16,1514 (b) The total number of transactions in which the provider provided proceeds
15to consumers.
SB579,16,1716 (c) The total number of unique consumers to whom the provider provided
17proceeds.
SB579,16,1818 (d) The total dollar amount of proceeds the provider provided to consumers.
SB579,16,2019 (e) The total dollar amount of fees, voluntary tips, gratuities, or other donations
20the provider received from consumers.
SB579,16,22 21(2) Failure by a provider to submit a timely report as required under sub. (1)
22is grounds for disciplinary action by the division.
SB579,17,2 23(3) The division shall keep confidential the information contained in the
24annual report under sub. (1), and this information is not subject to public copying or
25inspection under s. 19.35 (1), but the division may prepare and make publicly

1available an aggregated and anonymized analysis of the information submitted by
2all providers under this section.
SB579,17,9 3(4) A provider required to be licensed under s. 203.03 (1) shall keep such books
4and records that, in the opinion of the division, will enable the division to determine
5whether the provider is in compliance with this chapter. The provider shall retain
6records related to proceeds for at least 2 years following the date on which proceeds
7are provided. The provider may keep books and records at a place of business located
8outside this state if the provider is able to readily produce those books and records
9for review by the division upon reasonable request by the division.
SB579,17,12 10203.07 Suspension or revocation of license. (1) The division may suspend
11or revoke a provider's license issued under s. 203.03 (7) if the division finds any of
12the following:
SB579,17,1513 (a) That the provider violated any provision of this chapter, any rule
14promulgated under this chapter, or any lawful order of the division made under this
15chapter.
SB579,17,1816 (b) That any fact or condition exists that, if it had existed at the time of the
17provider's original application for a license, would have warranted the division
18refusing to issue the license.
SB579,17,2019 (c) That the provider made a material misstatement in an application for a
20license or in information furnished to the division.
SB579,17,2221 (d) That the provider failed to pay the annual license fee or to maintain in effect
22the bond required under s. 203.03 (6).
SB579,18,3 23(2) The division shall revoke a provider's license issued under s. 203.03 (7) if
24the department of revenue certifies under s. 73.0301 that the provider is liable for
25delinquent taxes. A provider whose license is revoked under this subsection for

1delinquent taxes is entitled to a notice under s. 73.0301 (2) (b) 1. b. and a hearing
2under s. 73.0301 (5) (a) but is not entitled to any other notice or hearing under this
3chapter.
SB579,18,10 4(3) The division shall revoke a provider's license issued under s. 203.03 (7) if
5the department of workforce development certifies under s. 108.227 that the
6provider is liable for delinquent unemployment insurance contributions. A provider
7whose license is revoked under this subsection for delinquent unemployment
8insurance contributions is entitled to a notice under s. 108.227 (2) (b) 1. b. and a
9hearing under s. 108.227 (5) (a) but is not entitled to any other notice or hearing
10under this chapter.
SB579,18,12 11(4) Except as provided in subs. (2) and (3), the division may not revoke or
12suspend a provider's license except after a hearing under this chapter.
SB579,18,17 13203.08 Violations and enforcement. (1) The division may bring a civil
14action to restrain by temporary or permanent injunction a person from violating this
15chapter or rules promulgated under this chapter or to restrain a person from
16engaging in false, misleading, deceptive, or unconscionable conduct in connection
17with offering earned wage access services.
SB579,19,7 18(2) The division may seek a temporary restraining order without written or
19oral notice to the adverse party. If a court finds that there is reasonable cause to
20believe that the respondent is engaged in the conduct sought to be restrained and
21that such conduct violates this chapter or rules promulgated under this chapter, the
22court may grant a temporary restraining order or any temporary relief the court
23determines is appropriate. A temporary restraining order granted without notice
24shall expire by its terms within a stated time after entry, not to exceed 30 days, as
25the court fixes, unless within this time it is extended by the court, or unless the party

1against whom the order is directed consents that it may be extended for a longer
2period. When a temporary restraining order is granted without notice, the motion
3for a preliminary injunction shall be set down for a hearing at the earliest possible
4time. Upon notice to the party who obtained the temporary restraining order without
5notice, the adverse party may appear and move its dissolution or modification, and,
6in this event, the court shall proceed to hear and determine such motion as
7expeditiously as the ends of justice require.
SB579,19,10 8(3) The division may recover in a civil action from a person that violates this
9chapter or rules promulgated under this chapter a civil penalty of not less than $100
10and not more than $1,000 for each violation.
SB579,19,14 11(4) In addition to the amount to which the division is entitled under sub. (3),
12the division may recover in a civil action from a person that knowingly or willfully
13violates this chapter or rules promulgated under this chapter a civil penalty of not
14less than $1,000 and not more than $10,000 for each violation.
SB579,6 15Section 6. 220.02 (2) (j) of the statutes is created to read:
SB579,19,1616 220.02 (2) (j) Earned wage access services providers under ch. 203.
SB579,7 17Section 7. 220.02 (3) of the statutes is amended to read:
SB579,20,218 220.02 (3) It is the intent of sub. (2) to give the division jurisdiction to enforce
19and carry out all laws relating to banks or banking in this state, including those
20relating to state banks, savings banks, savings and loan associations, and trust
21company banks, and also all laws relating to small loan companies or other loan
22companies or agencies, finance companies, insurance premium finance companies,
23earned wage access services providers, motor vehicle dealers, adjustment service
24companies, community currency exchanges, mortgage bankers, mortgage loan
25originators, mortgage brokers, and collection agencies and those relating to sellers

1of checks under ch. 217, whether doing business as corporations, individuals, or
2otherwise, but to exclude laws relating to credit unions.
SB579,8 3Section 8 . Nonstatutory provisions.
SB579,20,44 (1) Earned wage access services.
SB579,20,85 (a) License application form. Not later than the first day of the 6th month
6beginning after the effective date of this paragraph, the division of banking in the
7department of financial institutions shall prescribe the form and content of an
8application for a license to provide earned wage access services pursuant to this act.
SB579,20,159 (b) Transitional provision. Notwithstanding s. 203.03 (1), a person who, as of
10January 1, 2023, was engaged in the business of providing in this state earned wage
11access services, as defined in s. 203.01 (6), may, until the first day of the 7th month
12beginning after the effective date of this paragraph, continue to engage in the
13business of providing earned wage access services in this state without obtaining a
14license if the person has submitted an application under s. 203.03 (2) for a license and
15otherwise complies with ch. 203.
SB579,9 16Section 9. Initial applicability.
SB579,20,2017 (1) The treatment of s. 203.04 (1) (b) first applies, with respect to a provider that
18offers proceeds to a consumer under the terms of an agreement that specifies the
19consumer's cost of obtaining proceeds, to an agreement entered into on the effective
20date of this subsection.
SB579,10 21Section 10. Effective dates. This act takes effect on the first day of the 6th
22month beginning after publication, except as follows:
SB579,20,2323 (1) Section 8 (1 ) (a) of this act takes effect on the day after publication.
SB579,20,2424 (End)
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