October 27, 2023 - Introduced by Representatives Dallman, Neylon, Allen,
Dittrich, Gundrum, Murphy, Mursau, Nedweski, Novak, Rettinger, Steffen
and Tusler, cosponsored by Senators Stafsholt, Tomczyk and Cowles.
Referred to Committee on Financial Institutions.

AB574,1,4 1An Act to amend 73.0301 (1) (d) 6., 108.227 (1) (e) 6., 138.14 (3) and 220.02 (3);
2and to create 138.09 (1a) (c), chapter 203 and 220.02 (2) (j) of the statutes;
3relating to: regulating earned wage access services, granting rule-making
4authority, and providing a penalty.

This bill regulates companies that provide earned wage access services in this
state to individuals who reside in this state (consumers) and requires such
companies to be licensed by the Division of Banking (division) in the Department of
Financial Institutions before providing those services.

Under the bill, “earned wage access service” is defined as the business of
delivering to consumers access to earned but unpaid income that is based on 1) the
consumer's representations and the provider's reasonable determination of the
consumer's earned but unpaid income; or 2) employment, income, or attendance data
obtained directly or indirectly from an employer. The bill defines, with exceptions,
a “provider” as a business entity that is in the business of providing earned wage
access services to consumers. “Earned but unpaid income” is defined as salary,
wages, compensation, or other income that a consumer or an employer has
represented, and that a provider has reasonably determined, has been earned or
accrued to the benefit of the consumer in exchange for the consumer's provision of
services to the employer or on the employer's behalf but has not, at the time of the
payment of proceeds, been paid to the consumer by the employer. An “employer”
includes a person who is obligated to pay a consumer acting as an independent

contractor. “Proceeds” are defined as a provider's payment to a consumer based on
earned but unpaid income.