Bill > HR7428

This bill, the Earned Wage Access Consumer Protection Act, regulates the business of offering and providing earned wage access services to consumers. The key provisions of the bill include: 1) requiring earned wage access providers to offer a no-cost option for consumers to obtain earned wages, 2) mandating various disclosures to consumers before and after they access their earned wages, 3) prohibiting providers from compelling repayment of earned wages through certain means, 4) requiring providers to reimburse consumers for any overdraft or non-sufficient funds fees triggered by incorrect repayment attempts, 5) placing restrictions on the types of payments providers can accept from consumers, and 6) prohibiting providers from discriminating against consumers based on certain protected characteristics. The bill also grants rulemaking authority to the Bureau of Consumer Financial Protection to implement these provisions.