Earned Wage Access Consumer Protection Act

This bill sets rules for services that let workers get their pay early, before their regular payday. It says these services are not considered loans, so they don't have to follow the same rules that apply to credit products like loans or credit cards. However, the bill requires these providers to offer a free option for workers to access their pay, clearly explain all fees before someone signs up, and not set a default tip higher than zero dollars. Providers also cannot sue people to collect money they owe (unless there's fraud), must cover overdraft fees caused by the provider's mistakes, and cannot share any fees or tips with the worker's employer.

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