Earned Wage Access Consumer Protection Act
- Bill Number
- H.R. 9330
- Origin Chamber
- House
- Congress
- 119th Congress, Session 2
- Policy Area
- Finance and Financial Sector
- Status
- Introduced
- Latest Action
- 2026-09-01: Placed on the Union Calendar, Calendar No. 690.
- Last Updated
- 2026-09-18T15:15:56Z
AI-Generated Summary
Purpose
This legislation establishes federal standards for companies offering earned wage access services, which allow consumers to receive wages they have already earned but have not yet been paid by their employer. The goal is to protect consumers through required disclosures, limits on practices, and options for fee-free access while creating a uniform regulatory framework.
Key Provisions
- No-cost option and timing: Providers must offer consumers the choice to access earned wages without any fees or tips, with transfers initiated within one business day.
- Disclosures: Providers must give consumers clear information before agreements (such as limits on amounts or frequency, fees, and fee-free options), before disbursing funds (such as transaction details and expected repayment), and ongoing access to totals of fees and tips paid.
- Tip rules: Tips are voluntary, cannot be required, and must be disclosed as such; default tip amounts cannot exceed zero, and selecting zero requires no extra confirmation.
- Consumer protections: Providers must verify that requested amounts do not exceed actual earned wages, require consumer attestation against duplicate requests from other providers, allow cancellation without penalties, maintain dispute resolution processes, and reimburse consumers for overdraft fees caused by early or incorrect payment attempts.
- Collection restrictions: Providers cannot sue consumers, use arbitration, hire debt collectors, or sell debts to third parties for repayment, except in cases of knowingly false consumer information.
- Prohibited practices: Providers cannot share fees or tips with employers, accept credit card payments (with limited exceptions), charge late or deferral fees, report activities to credit bureaus, or discriminate based on race, color, religion, national origin, sex, marital status, or age.
- Employer disclosures and privacy: Limited information may be shared with employers under contracts; providers are treated as financial institutions for data privacy rules.
- State law interaction: The bill preserves state laws that are consistent but preempts state rules that classify these services as credit, loans, or debt, or that significantly interfere with compliant services; general state laws on fraud or contracts remain in effect.
- Rulemaking and definitions: The Bureau of Consumer Financial Protection must issue rules within 180 days; earned wage access services and related fees are explicitly not considered credit or loans under federal law.
Significant Changes to Existing Law
- Adds earned wage access services to the Bureau of Consumer Financial Protection's oversight authority under the Consumer Financial Protection Act.
- Amends the Truth in Lending Act to exclude these services from definitions of credit and creditors.
- Introduces a federal preemption framework that limits states from regulating these services as loans or debt, creating a distinct regulatory category.
Potential Impacts
- On government agencies: The Bureau of Consumer Financial Protection gains new rulemaking and enforcement responsibilities; state regulators may face limits on certain oversight activities.
- On citizens: Consumers receive standardized protections, disclosures, and a no-fee option, but may encounter uniform national rules rather than varying state standards.
- On international relations: No direct effects identified in the legislation.
Main Stakeholders Affected
- Consumers using these services.
- Companies providing earned wage access services.
- Employers who contract with providers.
- State governments and their regulatory bodies.
- The Bureau of Consumer Financial Protection.
Notable Legal, Constitutional, or Political Implications
- Establishes a clear federal distinction that these services are not credit products, potentially affecting how they are treated in other laws or court interpretations.
- Includes a non-discrimination requirement aligned with existing federal civil rights standards.
- Preemption provisions may raise questions about the balance of federal and state authority in consumer financial matters.
This summary was generated by AI and may contain inaccuracies. Refer to the official source document for the authoritative text.
Sponsor
Recent Actions
- 2026-09-01: Placed on the Union Calendar, Calendar No. 690.
- 2026-09-01: Reported (Amended) by the Committee on Financial Services. H. Rept. 119-790.
- 2026-09-01: Reported (Amended) by the Committee on Financial Services. H. Rept. 119-790.
- 2026-06-30: Ordered to be Reported (Amended) by the Yeas and Nays: 29 - 22.
- 2026-06-30: Committee Consideration and Mark-up Session Held
- 2026-06-18: Referred to the House Committee on Financial Services.
- 2026-06-18: Introduced in House
- 2026-06-18: Introduced in House
Bill Versions
- Earned Wage Access Consumer Protection Act — issued 2026-06-18 — PDF (18 pages)
- Earned Wage Access Consumer Protection Act — issued 2026-09-01 — PDF (24 pages)