Bill
Bill > SB1217
summary
Introduced
01/10/2023
01/10/2023
In Committee
02/16/2023
02/16/2023
Crossed Over
02/22/2023
02/22/2023
Passed
Dead
02/25/2023
02/25/2023
Introduced Session
2023 Regular Session
Bill Summary
Financial institutions; earned wage access services; stakeholder process; report. Directs the Bureau of Financial Institutions of the State Corporation Commission to convene a stakeholder process regarding the provision or offering of earned wage access services that includes representatives from providers of earned wage access services, consumer advocates, and the Office of the Attorney General. The bill requires the Bureau of Financial Institutions to report its findings and recommendations by November 1, 2023.
AI Summary
This bill directs the Bureau of Financial Institutions of the State Corporation Commission to convene a stakeholder process regarding the provision or offering of earned wage access services, which are services that allow consumers to receive a portion of their earned but unpaid income prior to their normal pay date. The bill requires the Bureau to report its findings and recommendations by November 1, 2023. It also establishes new licensing requirements, regulations, and consumer protections for providers of earned wage access services in Virginia. The bill aims to ensure these services are provided efficiently, fairly, and in accordance with the law.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Failed to pass in Senate (on 02/25/2023)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://lis.virginia.gov/cgi-bin/legp604.exe?231+sum+SB1217 |
| Fiscal Note/Analysis - House: Committee substitute printed 23106 | https://lis.virginia.gov/cgi-bin/legp604.exe?231+oth+SB1217FH1171+PDF |
| BillText | https://lis.virginia.gov/cgi-bin/legp604.exe?231+ful+SB1217H1+hil |
| Substitute for SB1217 Commerce and Energy, Subcommittee #1 | https://committees.lis.virginia.gov/pdfs/23106908D.pdf |
| Fiscal Note/Analysis - Senate: Committee substitute printed 2310 | https://lis.virginia.gov/cgi-bin/legp604.exe?231+oth+SB1217FS1171+PDF |
| BillText | https://lis.virginia.gov/cgi-bin/legp604.exe?231+ful+SB1217S1+hil |
| Substitute for SB1217 for S-Commerce and Labor | https://committees.lis.virginia.gov/pdfs/drafts/23106368D.pdf |
| Fiscal Note/Analysis - Senate: Prefiled and ordered printed; off | https://lis.virginia.gov/cgi-bin/legp604.exe?231+oth+SB1217F171+PDF |
| BillText | https://lis.virginia.gov/cgi-bin/legp604.exe?231+ful+SB1217+hil |
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