Bill > HB1020

This bill establishes a comprehensive regulatory framework for earned-wage access services (EWA services) in Colorado, creating a licensing and oversight system for providers who offer early access to earned but unpaid income. Starting January 1, 2026, any provider offering these services must obtain a license from the Administrator (a designated official in the Attorney General's office), submit annual reports, maintain detailed records, and comply with specific consumer protection requirements. The bill defines key terms such as "earned but unpaid income" and establishes that these services are not considered loans, credit, or debt transmission. Providers must offer at least one no-cost option for accessing wages, fully disclose fees, allow consumers to cancel services without penalty, and comply with privacy and information security laws. The bill prohibits providers from sharing fees with employers, requiring credit reports, charging late fees, or reporting consumer information to credit agencies. The Administrator is granted broad powers to investigate, enforce regulations, and impose penalties up to $1,000 per violation, with potential civil penalties of up to $10,000 for repeated willful violations. The legislation aims to protect consumers by ensuring transparent, fair, and responsible earned-wage access services while providing a clear regulatory structure for providers operating in Colorado.

Budget and Finance, Business and Industry

https://leg.colorado.gov/bills/hb25-1020