Bill
Bill > S06778
NY S06778
NY S06778Provides for earned wage access services offered in this state; defines terms; provides requirements for wage access services; outlines reporting requirements and enforcement provisions; makes related provisions.
summary
Introduced
05/17/2021
05/17/2021
In Committee
01/05/2022
01/05/2022
Crossed Over
Passed
Dead
12/31/2022
12/31/2022
Introduced Session
2021-2022 General Assembly
Bill Summary
Provides for earned income access services offered in this state; defines terms; provides requirements for income access services; outlines reporting requirements and enforcement provisions; makes related provisions.
AI Summary
This bill provides for earned wage access services offered in this state. It defines key terms such as "earned but unpaid income," "earned wage access services," and "non-recourse." The bill requires providers of earned wage access services to register with the Department of Financial Services, outlines requirements for these services, and establishes reporting and enforcement provisions. The bill also amends the Banking Law to include registered earned wage access service providers as confidential communications not subject to subpoena. The bill will take effect 120 days after becoming law, and rulemaking for implementation is authorized to be completed by the effective date.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
PRINT NUMBER 6778A (on 03/21/2022)
Official Document
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