Bill > HB2043

This bill introduces comprehensive regulation for earned wage access services (EWA services) in Texas, establishing a new Chapter 355 in the Finance Code. The bill requires EWA service providers to register with the state, maintain a $200,000 surety bond, and comply with specific operational requirements. Providers must give consumers clear disclosures about fees, rights, and service terms, including offering at least one no-cost option for accessing earned wages. The legislation prohibits providers from engaging in predatory practices like charging late fees, using credit scores for eligibility, compelling payment through aggressive collection methods, or sharing consumer fees with employers. Providers must maintain detailed transaction records, submit annual reports, and are subject to state examination. The bill explicitly states that EWA services are not considered lending, money transmission, or debt collection when providers follow specified guidelines. Certain entities like banks and employers offering early wage access are exempt from registration. Existing EWA service providers have until January 1, 2026, to obtain registration, and the new contract provisions will apply only to agreements entered into after the bill's effective date of September 1, 2025. The legislation aims to protect consumers by creating a structured, transparent framework for earned wage access services.

Labor and Employment

https://capitol.texas.gov/BillLookup/History.aspx?LegSess=89R&Bill=HB2043