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Bill > HB674
GA HB674
GA HB674Financial institutions; earned wage access service providers; provide requirements
summary
Introduced
02/26/2021
02/26/2021
In Committee
Crossed Over
Passed
Dead
04/04/2022
04/04/2022
Introduced Session
2021-2022 Regular Session
Bill Summary
AN ACT To amend Chapter 1 of Title 7 of the Official Code of Georgia Annotated, relating to financial institutions, so as to provide requirements for earned wage access service providers; to require registration of such providers with the Department of Banking and Finance; to provide for fees; to provide for complaints; to provide for rules and regulations; to provide for definitions; to provide for related matters; to repeal conflicting laws; and for other purposes.
AI Summary
This bill provides requirements for earned wage access service providers in Georgia. It defines key terms like "earned wages or income" and "earned wage access service provider," and requires such providers to verify a consumer's earned wages and deliver unpaid wages to the consumer prior to the next scheduled pay date. The bill also requires providers to register with the Department of Banking and Finance, pay registration fees, and maintain a bond or letter of credit. Consumers can file complaints about providers with the department, which will review and investigate them. The department is also required to promulgate rules and regulations for implementing these provisions.
Committee Categories
Labor and Employment
Sponsors (2)
Last Action
House Second Readers (on 03/03/2021)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| BillText | https://www.legis.ga.gov/api/legislation/document/20212022/199048 |
| Bill | https://www.legis.ga.gov/legislation/60151 |
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