SB 1582 — earned wage access; providers; license

Senate Amendments to S.B.

1582 14.

To apply for a mortgage broker, commercial mortgage broker, sales finance company or debt management company license, $500.

15.

To apply for a collection agency license, $1,500.

16.

To apply for a branch office of an escrow agent, consumer lender, commercial mortgage banker, mortgage banker or trust company, $500.

17.

To apply for a branch office of a mortgage broker, commercial mortgage broker, debt management company[,] [or] sales finance company [OR EARNED WAGE ACCESS PROVIDER], $250.

18.

To apply for approval for the merger or consolidation of two or more financial institutions, $5,000 per institution.

19.

To apply for approval to convert from a national bank or federal savings and loan charter to a state chartered institution, $1,000.

20.

To apply for approval to convert from a federal credit union to a state chartered credit union, $500.

21.

To apply for approval to merge or consolidate two or more credit unions, $500 per credit union.

22.

To change the licensee name on a financial institution or enterprise license, except for a loan originator or appraiser license, not more than $250.

23.

To apply for a license pursuant to chapter 12, article 1 of this title, $1,500 plus $25 for each branch office and authorized delegate to a maximum of $4,500.

24.

To acquire control of a person that is licensed pursuant to chapter 12, article 1 of this title or a controlling person pursuant to chapter 12 of this title, $2,500.

25.

To receive the following publications:

(a) Quarterly bank and savings and loan statement of condition, not more than $10 per copy.

(b) Monthly summary of actions report, not more than $5 per copy.

(c) A list of licensees, a monthly pending actions report and all other in-house prepared reports or listings made available to the public, not more than $1 per page.

26.

To apply for a loan originator license, an amount to be determined by the deputy director.

27.

To apply for a loan originator license transfer, an amount to be determined by the deputy director.

28.

To apply for a conversion from a mortgage banker license to a mortgage broker license, an amount to be determined by the deputy director.

29.

For a premium finance company, $300 plus $300 for each branch office.

30.

For an advance fee loan broker, $50.

[31.

TO APPLY FOR AN EARNED WAGE ACCESS SERVICES PROVIDER LICENSE, A FEE ESTABLISHED BY THE DIRECTOR IN RULE.] B.

On application for a license or permit for an enterprise or consumer lender, the applicant shall pay the first year's annual -2- Senate Amendments to S.B.

1582 assessment listed in subsection D of this section, prorated according to the number of quarters remaining until the date of the next annual assessment or renewal.

If the result of the application ends in a denial, the department shall refund the prorated annual assessment that the applicant paid.

Annual renewal fees are nonrefundable.

C.

On issuance of a license or permit for a financial institution, the department shall collect the first year's annual assessment or renewal fee for the financial institution, except for a consumer lender that paid on application, prorated according to the number of quarters remaining until the date of the next annual assessment or renewal.

D.

The following annual assessments and renewal fees shall be paid each year:

1.

For an escrow agent or trust company, $1,000 plus $250 for each branch office.

2.

For a debt management company or sales finance company, $500 plus $200 for each branch office.

3.

For a collection agency, $600.

4.

For an inactive mortgage broker or commercial mortgage broker, $250.

5.

For a mortgage banker that negotiates or closes in the aggregate one hundred loans or less in the immediately preceding calendar year, $750, and for a mortgage banker that negotiates or closes in the aggregate over one hundred loans in the immediately preceding calendar year, $1,250.

In addition, a mortgage banker shall pay $250 for each branch office.

6.

For a commercial mortgage banker, $1,250.

In addition, a commercial mortgage banker shall pay $250 for each branch office.

7.

For a mortgage broker or commercial mortgage broker that negotiates or closes in the aggregate fifty loans or less in the immediately preceding calendar year, $250 and for a mortgage broker or commercial mortgage broker that negotiates or closes in the aggregate more than fifty loans in the immediately preceding calendar year, $500.

In addition, a mortgage broker or commercial mortgage broker shall pay $200 for each branch office.

8.

For a consumer lender, $1,000 plus $200 for each branch office.

9.

For a licensee PERSON THAT IS LICENSED pursuant to chapter 12, article 1 of this title, $500 plus $25 for each branch office and each authorized delegate to a maximum of $2,500.

10.

For a loan originator, an amount to be determined by the deputy director.

11.

For a loan originator change to inactive status, an amount to be determined by the deputy director.

12.

For a premium finance company, $300 plus $300 for each branch office.

13.

For an advance fee loan broker, $25.

14.

FOR AN EARNED WAGE ACCESS SERVICES PROVIDER, [$1,000] [A FEE ESTABLISHED BY THE DIRECTOR IN RULE].

-3- Senate Amendments to S.B.

1582 Sec.

2.

A PERSON WHO IS LICENSED AS AAN EARNED WAGE ACCESS PROVIDER PURSUANT TO CHAPTER 18 OF THIS TITLE.

-4-- Senate1 Amendments- to S.B.

3.2.

-5-7. Senate Amendments to S.B.

1582A 7.federally insured depository financial institution, A bank holding company, AN office of an international banking corporation, A - 2 - S.B.

A1582 federally insured depository financial institution, A bank holding company, AN office of an international banking corporation, A foreign bank that establishes a federal branch pursuant to 12 United States Code section 3102, a corporation organized as a bank service company pursuant to 12 United States Code sections 1861 through 1867 or a corporation organized pursuant to 12 United States Code sections 611 through 633.

-6-- Senate3 Amendments- to S.B.

4.3.

(a) MEANS A PERSON THAT EMPLOYS A CONSUMER OR ANY OTHER PERSON THAT IS CONTRACTUALLY OBLIGATED TO PAY A CONSUMER EARNED BUT UNPAID INCOME IN EXCHANGE FOR THE CONSUMER'S PROVISION OF SERVICES TO THE EMPLOYERPERSON OR ON BEHALF OF THE EMPLOYER,PERSON, INCLUDING:

(ii) CIRCUMSTANCES IN WHICH THE CONSUMER IS ACTING AS AN INDEPENDENT CONTRACTORCONTRACTOR. [WITH RESPECT TO THE EMPLOYER].

(i) A CUSTOMER OF ANTHE EMPLOYER.PERSON.

(a) MEANS A FEE IMPOSED BY A PROVIDER FOR DELIVERY OR EXPEDITED DELIVERY OF PROCEEDS TO A CONSUMER OR A SUBSCRIPTION OR MEMBERSHIP FEE IMPOSED- BY4 A- PROVIDERS.B. FOR A BONA FIDE GROUP OF SERVICES THAT INCLUDES EARNED WAGE ACCESS SERVICES.

-7-1582 SenateIMPOSED AmendmentsBY toA S.B.PROVIDER FOR A BONA FIDE GROUP OF SERVICES THAT INCLUDES EARNED WAGE ACCESS SERVICES.

1582 (b) DOES NOT INCLUDE:

"LICENSEE" MEANS A BUSINESS ENTITY THAT IS LICENSED BY THE [DIVISION]DEPARTMENT [DEPARTMENT] UNDER SECTION 6-1802 AS A PROVIDER.

[BEGINNINGBEGINNING JANUARY 1, 2026,]2026, A PROVIDER, WHETHER LOCATED IN THIS STATE OR IN ANOTHER STATE, MAY NOT PROVIDE EARNED WAGE ACCESS SERVICES IN THIS STATE UNLESS THE PROVIDER HAS BEEN ISSUED A LICENSE BY THE [DIVISION]DEPARTMENT. [DEPARTMENT].

A PROVIDER REQUIRED TO BE LICENSED UNDER THIS SECTION SHALL APPLY FOR A LICENSE ON A FORM [AN]AND [AND] IN A MANNER AS PRESCRIBED BY THE [DIVISION]DEPARTMENT. [DEPARTMENT AND PAY THE FEE AS PRESCRIBED IN SECTION 6-126].

3.- 5 - S.B.

1582 3.

IF THE PROVIDER PROVIDES EARNED WAGE ACCESS SERVICES AT A LOCATION THAT IS NOT AN OFFICE OR RETAIL STORE IN THIS STATE, A [BRIEF]DESCRIPTION -8-OF SenateTHE AmendmentsMANNER toIN S.B.WHICH THE PROVIDER PROVIDES EARNED WAGE ACCESS SERVICES AND THE PROVIDER'S WEBSITE UNIFORM RESOURCE LOCATOR.

1582 DESCRIPTION OF THE MANNER IN WHICH THE PROVIDER PROVIDES EARNED WAGE ACCESS SERVICES AND THE PROVIDER'S WEBSITE UNIFORM RESOURCE LOCATOR.

[9.9.

(d) THE APPLICANT'S OFFICERS AND DIRECTORS IF THE PROVIDER IS A CORPORATION.]CORPORATION. [9.] [10.] ANY OTHER INFORMATION THE [DIVISION] [DEPARTMENT] REQUIRES TO ADMINISTER THIS CHAPTER.

10.

ANY OTHER INFORMATION THE DEPARTMENT REQUIRES TO ADMINISTER THIS CHAPTER.

[E.E.

A PROVIDER THATREQUIRED SUBMITSTO ANBE APPLICATIONLICENSED FOR A LICENSE UNDER THIS SECTION SHALL PAYFILE ANWITH APPLICATIONTHE FEEDEPARTMENT AND MAINTAIN IN ANFORCE AMOUNTA TOSURETY BEBOND DETERMINEDTHAT IS ISSUED BY A SURETY COMPANY ADMITTED TO DO BUSINESS IN THIS STATE AND THAT MEETS ALL OF THE DEPUTYFOLLOWING DIRECTOR.REQUIREMENTS:

F.] [E.] A PROVIDER REQUIRED TO BE LICENSED UNDER THIS SECTION SHALL FILE WITH THE [DIVISION] [DEPARTMENT] AND MAINTAIN IN FORCE A SURETY BOND THAT IS ISSUED BY A SURETY COMPANY ADMITTED TO DO BUSINESS IN THIS STATE AND THAT MEETS ALL OF THE FOLLOWING REQUIREMENTS:

[G.]F. [F.] A PERSON THAT CLAIMS AGAINST A BOND DESCRIBED UNDER SUBSECTION [F ] [E] OF THIS SECTION FOR A VIOLATION OF THIS CHAPTER MAY MAINTAIN AN ACTION AT LAW AGAINST THE PROVIDER THAT OBTAINED THE SURETY THAT ISSUED THE BOND.

THEA SURETYPERSON ISTHAT LIABLECLAIMS ONLYAGAINST FORA ACTUALBOND DAMAGESDESCRIBED ANDUNDER NOTSUBSECTION E OF THIS SECTION FOR PUNITIVEA DAMAGES.VIOLATION OF THIS CHAPTER MAY MAINTAIN AN ACTION AT LAW AGAINST THE PROVIDER THAT OBTAINED THE SURETY THAT ISSUED THE BOND.

THE SURETY IS LIABLE ONLY FOR ACTUAL DAMAGES AND NOT FOR PUNITIVE - 6 - S.B.

1582 DAMAGES.

[H.]G. [G.] ONCE THE APPLICANT SUBMITS AN APPLICATION AND REMITS PAYMENT OF THE APPLICATION FEE, THE [DIVISION] [DEPARTMENT] SHALL CONDUCT -9- Senate Amendments to S.B.

1582ONCE THE APPLICANT SUBMITS AN APPLICATION, THE DEPARTMENT SHALL CONDUCT A CHARACTER AND GENERAL FITNESS AND FINANCIAL RESPONSIBILITY INVESTIGATION OF THE FOLLOWING:

[I.]H. [H.] IF THE INVESTIGATION PURSUANT TO SUBSECTION [H ] [G] OF THIS SECTION FINDS RELEVANT FACTS THAT WARRANT THE BELIEF THAT THE APPLICANT'S BUSINESS WILL BE OPERATED IN COMPLIANCE WITH THIS CHAPTER, THE [DIVISION] [DEPARTMENT] SHALL ISSUE A LICENSE[, ] AND[,] IF NOT, THE [DIVISION] [DEPARTMENT] SHALL DENY THE APPLICATION FOR A LICENSE.

[J.]IF [I.]THE INVESTIGATION PURSUANT TO SUBSECTION G OF THIS SECTION FINDS RELEVANT FACTS THAT WARRANT THE [DIVISION]BELIEF [DEPARTMENT]THAT MAYTHE NOTAPPLICANT'S BUSINESS WILL BE OPERATED IN COMPLIANCE WITH THIS CHAPTER, THE DEPARTMENT SHALL ISSUE A LICENSE TOAND, ANIF APPLICANTNOT, IFTHE ANYDEPARTMENT OFSHALL DENY THE FOLLOWINGAPPLICATION APPLIES:FOR A LICENSE.

I.

THE DEPARTMENT MAY NOT ISSUE A LICENSE TO AN APPLICANT IF ANY OF THE FOLLOWING APPLIES:

[K.]J. [J.] THE PROVIDER'S LICENSE REMAINS IN FORCE AND EFFECT UNTIL THE [DIVISION] [DEPARTMENT] SUSPENDS OR REVOKES THE LICENSE IN ACCORDANCE WITH THIS CHAPTER OR THE PROVIDER SURRENDERS THE LICENSE.

ATHE LICENSEEPROVIDER'S SHALLLICENSE APPLYREMAINS FORIN RENEWALFORCE ASAND PRESCRIBEDEFFECT BYUNTIL THE [DEPUTY]DEPARTMENT DIRECTORSUSPENDS ANDOR PAYREVOKES THE RENEWALLICENSE FEE PRESCRIBED IN SECTIONACCORDANCE 6-126WITH NOTTHIS LATERCHAPTER THANOR DECEMBERTHE 31PROVIDER OFSURRENDERS EACHTHE YEAR.LICENSE.

FORA EACHLICENSEE DAYSHALL AFTERAPPLY DECEMBERFOR 31 THAT THE RENEWAL APPLICATIONAS ISPRESCRIBED NOT RECEIVED BY THE [DEPUTY]DIRECTOR DIRECTOR,NOT THELATER APPLICANTTHAN SHALLDECEMBER PAY31 AOF $25EACH LATEYEAR. FEE IN ADDITION TO THE FEE PRESCRIBED IN SECTION 6-126.

IFFOR THEEACH [DEPUTY]DAY DIRECTORAFTER DOESDECEMBER NOT31 RECEIVETHAT THE LICENSEE'S RENEWAL APPLICATION ANDIS FEENOT ONRECEIVED ORBY BEFORE DECEMBER 31, THE LICENSEEDIRECTOR, MAY NOT ACT AS AN EARNED WAGE ACCESS SERVICES PROVIDER UNTIL THE LICENSEAPPLICANT ISSHALL RENEWEDPAY OR A NEW$25 LICENSELATE ISFEE. ISSUED PURSUANT TO THIS ARTICLE.

IF THE [DEPUTY] DIRECTOR DOES NOT RECEIVE THE LICENSEE'S RENEWAL APPLICATION AND FEE ON OR BEFORE JANUARYDECEMBER 31, THE LICENSEE MAY NOT ACT AS AN EARNED WAGE ACCESS SERVICES PROVIDER UNTIL THE LICENSE AUTOMATICALLYIS EXPIRES.RENEWED OR A NEW LICENSE IS ISSUED PURSUANT TO THIS ARTICLE.

IF THE DIRECTOR DOES NOT RECEIVE THE LICENSEE'S RENEWAL APPLICATION ON OR BEFORE JANUARY 31, THE LICENSE AUTOMATICALLY EXPIRES.

[L.K.

A PROVIDER MAYSHALL NOTCONSPICUOUSLY ASSIGNPOST AITS LICENSE UNLESSAT ITITS ISPHYSICAL APPROVEDPLACE BYOF THEBUSINESS, DIVISIONON ORTHE BYPROVIDER'S OPERATIONWEBSITE OFAND LAWON INANY CONNECTIONOFFICIAL WITHCONSUMER-FACING ADOCUMENT, MERGERAGREEMENT OR CONVERSIONCORRESPONDENCE. THAT RESULTS IN SUBSTANTIALLY THE SAME OWNERSHIP AND CONTROL OF THE RESULTING ENTITY.

AL. PROVIDER SHALL NOTIFY THE DIVISION OF A CONVERSION OR MERGER WITHIN FIFTEEN DAYS AFTER THE DATE OF THE CONVERSION OR MERGER.

THEAN CONVERSIONAPPLICANT ORMAY MERGERAPPEAL MAYA BECOMEDENIAL EFFECTIVEOF ONAN APPROVALAPPLICATION BYPURSUANT THETO DEPUTYTITLE DIRECTOR.41, CHAPTER 6, ARTICLE 10.

M.]M. [K.] A PROVIDER SHALL CONSPICUOUSLY POST ITS LICENSE AT ITS PHYSICAL PLACE OF BUSINESS[,] [OR] ON THE PROVIDER'S WEBSITE [, IF THE PROVIDER CONDUCTS BUSINESS ON A WEBSITE] [AND ON ANY OFFICIAL CONSUMER-FACING DOCUMENT, AGREEMENT OR CORRESPONDENCE].

-10-FOR SenateTHE AmendmentsPURPOSES toOF S.B.THIS SECTION:

1582 [L.

AN APPLICANT MAY APPEAL A DENIAL OF AN APPLICATION PURSUANT TO TITLE 41, CHAPTER 6, ARTICLE 10.] [N.

NOTWITHSTANDING ANY OTHER LAW, THE DIVISION SHALL KEEP CONFIDENTIAL THE INFORMATION CONTAINED IN AN APPLICATION FOR A LICENSE UNDER SUBSECTION B OF THIS SECTION AND ANY INFORMATION OBTAINED DURING THE DIVISION'S CHARACTER AND GENERAL FITNESS AND FINANCIAL RESPONSIBILITY INVESTIGATION UNDER SUBSECTION H OF THIS SECTION, AND THAT INFORMATION IS NOT SUBJECT TO PUBLIC COPYING OR PUBLIC INSPECTION UNDER SECTION 39-121.] [O.] [M.] FOR THE PURPOSES OF THIS SECTION:

2.- 7 - S.B.

1582 2.

DEVELOP AND IMPLEMENT POLICIES AND PROCEDURES TO RESPOND TO QUESTIONS RAISED BY CONSUMERS AND ADDRESS COMPLAINTS FROM CONSUMERS IN AN EXPEDIENT MANNER[,MANNER, INCLUDING REIMBURSING A CONSUMER PURSUANT TO PARAGRAPH 9,10, SUBDIVISION (b) OF THIS SUBSECTION].SUBSECTION.

-11-(a) SenateINFORM AmendmentsTHE toCONSUMER S.B.OF THE CONSUMER'S RIGHTS UNDER THE AGREEMENT IN WRITING.

1582 (a) INFORM THE CONSUMER OF THE CONSUMER'S RIGHTS UNDER THE AGREEMENT IN WRITING.

[(c)(c) EXPLAIN THE PROCEDURES THE PROVIDER WILL FOLLOW IF THE PROVIDER'S FIRST ATTEMPT TO COLLECTOBTAIN PAYMENT OF OUTSTANDING PROCEEDS AND ANY ASSOCIATED FEES, TIPS, GRATUITIES AND OTHER DONATIONS IS UNSUCCESSFUL.]UNSUCCESSFUL. 4.

[INFORM]- [OBTAIN8 THE- CONSENTS.B. OF] THE CONSUMER [OF] [FOR] ANY MATERIAL CHANGE TO THE TERMS AND CONDITIONS OF THE EARNED WAGE ACCESS SERVICES [OR MAKE MATERIAL CHANGES AVAILABLE FOR AT LEAST THIRTY DAYS] BEFORE IMPLEMENTING THAT CHANGE FOR THE CONSUMER.

1582 4.

EXCEPT AS PROVIDED IN PARAGRAPH 5 OF THIS SUBSECTION, OBTAIN THE CONSENT OF THE CONSUMER FOR ANY MATERIAL CHANGE TO THE TERMS AND CONDITIONS OF THE EARNED WAGE ACCESS SERVICES BEFORE IMPLEMENTING THAT CHANGE FOR THE CONSUMER.

ALLOWPROVIDE THEAT CONSUMERLEAST TOTHIRTY CANCELDAYS' USEADVANCE OFWRITTEN THENOTICE PROVIDER'STO EARNEDA WAGECONSUMER ACCESSFOR SERVICESANY ATMATERIAL ANYCHANGE TIMETO WITHOUTTHE INCURRINGTERMS AAND CANCELLATIONCONDITIONS FEEOF ORAN INHIBITINGEARNED WAGE ACCESS PRODUCT THAT INCLUDES THE CUSTOMER'S ASSENT TO CONSUMERA FUNDSVOLUNTARY THATPREAUTHORIZED AREAUTOMATED INELECTRONIC PROCESS.FUNDS TRANSFER.

THE NOTICE REQUIRED BY THIS PARAGRAPH MAY BE PROVIDED THROUGH EMAIL OR ANOTHER CONSPICUOUS ELECTRONIC METHOD IF THE CONSUMER CONSENTS TO RECEIVE COMMUNICATIONS THROUGH ELECTRONIC MEANS.

FOR THE PURPOSES OF THIS PARAGRAPH, VOLUNTARY PREAUTHORIZED AUTOMATED ELECTRONIC FUNDS TRANSFER DOES NOT INCLUDE A ONETIME TRANSACTION FOR PROCEEDS AUTHORIZED BY THE CONSUMER.

COMPLYALLOW WITHTHE ALLCONSUMER LOCAL,TO STATECANCEL ANDUSE FEDERALOF PRIVACYTHE ANDPROVIDER'S INFORMATIONEARNED SECURITYWAGE LAWS.ACCESS SERVICES AT ANY TIME WITHOUT INCURRING A CANCELLATION FEE OR INHIBITING ACCESS TO CONSUMER FUNDS THAT ARE IN PROCESS.

COMPLY WITH ALL LOCAL, STATE AND FEDERAL PRIVACY AND INFORMATION SECURITY LAWS.

8.

8.

PROVIDE PROCEEDS TO A CONSUMER BY ANY MEANS MUTUALLY AGREED ON BY THE CONSUMER AND THE LICENSEE.

IFPROVIDE THE PROVIDER SEEKS REPAYMENT OF OUTSTANDING PROCEEDS ORTO PAYMENTA OFCONSUMER FEES OR OTHER AMOUNTS OWED, INCLUDING VOLUNTARY TIPS, GRATUITIES OR OTHER DONATIONS[,] IN CONNECTION WITH THE ACTIVITIES COVERED BY THISANY CHAPTERMEANS FROMMUTUALLY AAGREED CONSUMER'SON ACCOUNT AT A DEPOSITORY INSTITUTION BY MEANSTHE OFCONSUMER ANAND ELECTRONIC FUNDS TRANSFER, DO ALL OF THE FOLLOWING:LICENSEE.

(a)10. COMPLY WITH APPLICABLE PROVISIONS OF THE ELECTRONIC FUND TRANSFER ACT AS PRESCRIBED IN 15 UNITED STATES CODE SECTIONS 1693 THROUGH 1693r AND THE REGULATIONS ADOPTED UNDER 15 UNITED STATES CODE SECTIONS 1693 THROUGH SECTION 1693r.

(b)IF [WITHIN TEN BUSINESS DAYS AFTER THE CONSUMER'SPROVIDER REQUEST,]SEEKS REIMBURSEREPAYMENT THEOF CONSUMEROUTSTANDING FORPROCEEDS THEOR FULLPAYMENT AMOUNT OF ANYFEES OVERDRAFT OR NONSUFFICIENTOTHER FUNDAMOUNTS FEESOWED, IMPOSEDINCLUDING ONVOLUNTARY THATTIPS, CONSUMERGRATUITIES BYOR THEOTHER CONSUMER'SDONATIONS, DEPOSITORYIN INSTITUTIONCONNECTION THATWITH WERETHE CAUSEDACTIVITIES COVERED BY THETHIS PROVIDERCHAPTER ATTEMPTINGFROM TOA SEEKCONSUMER'S PAYMENTACCOUNT OFAT ANYA OUTSTANDINGDEPOSITORY PROCEEDS,INSTITUTION FEESBY ORMEANS OTHEROF PAYMENTSAN INELECTRONIC CONNECTIONFUNDS -12-TRANSFER, SenateDO AmendmentsALL toOF S.B.THE FOLLOWING:

1582(a) COMPLY WITH APPLICABLE PROVISIONS OF THE ACTIVITIESELECTRONIC COVEREDFUND BYTRANSFER THISACT CHAPTER,AS INCLUDINGPRESCRIBED VOLUNTARYIN TIPS,15 GRATUITIESUNITED ORSTATES OTHERCODE DONATIONS[,]SECTIONS ON1693 ATHROUGH DATE1693r BEFORE,AND ORTHE INREGULATIONS ANADOPTED INCORRECTUNDER AMOUNT15 FROM,UNITED THESTATES DATECODE ORSECTIONS AMOUNT1693 DISCLOSEDTHROUGH TOSECTION THE1693 CONSUMER.r.

(b) WITHIN TEN BUSINESS DAYS AFTER THE CONSUMER'S REQUEST, REIMBURSE THE CONSUMER FOR THE FULL AMOUNT OF ANY OVERDRAFT OR - 9 - S.B.

1582 NONSUFFICIENT FUND FEES IMPOSED ON THAT CONSUMER BY THE CONSUMER'S DEPOSITORY INSTITUTION THAT WERE CAUSED BY THE PROVIDER ATTEMPTING TO SEEK PAYMENT OF ANY OUTSTANDING PROCEEDS, FEES OR OTHER PAYMENTS IN CONNECTION WITH THE ACTIVITIES COVERED BY THIS CHAPTER, INCLUDING VOLUNTARY TIPS, GRATUITIES OR OTHER DONATIONS, ON A DATE BEFORE, OR IN AN INCORRECT AMOUNT FROM, THE DATE OR AMOUNT DISCLOSED TO THE CONSUMER.

[(b])(b) USE OF OUTBOUND TELEPHONE CALLS.]CALLS. [(b)] [(c)] USE OF A THIRD PARTY TO PURSUE COLLECTION FROM THE CONSUMER ON THE PROVIDER'S BEHALF.

[(c)](c) [(d)]USE SALE OF OUTSTANDING AMOUNTS TO A THIRD-PARTYTHIRD COLLECTORPARTY ORTO DEBTPURSUE BUYER FOR COLLECTION FROM THE CONSUMER.CONSUMER ON THE PROVIDER'S BEHALF.

[(e])(d) BYSALE ACTINGOF ASOUTSTANDING AMOUNTS TO A COLLECTIONTHIRD-PARTY AGENCYCOLLECTOR ASOR DEFINEDDEBT INBUYER SECTIONFOR 32-1001.]COLLECTION 7.FROM THE CONSUMER.

IF(e) THEBY PROVIDERACTING SOLICITSAS ORA RECEIVESCOLLECTION TIPS,AGENCY GRATUITIESAS ORDEFINED OTHERIN DONATIONSSECTION FROM32-1001. CONSUMERS, MISLEAD OR DECEIVE CONSUMERS ABOUT THE VOLUNTARY NATURE OF THE TIPS, GRATUITIES OR OTHER DONATIONS OR MAKE REPRESENTATIONS THAT THE TIPS, GRATUITIES OR OTHER DONATIONS WILL BENEFIT [SPECIFIC INDIVIDUALS.] [ANY INDIVIDUAL, INCLUDING THE CONSUMER, OR ARE NECESSARY TO OFFER EARNED WAGE ACCESS SERVICES, INCLUDING THE AMOUNT OF PROCEEDS THE CONSUMER IS ELIGIBLE TO REQUEST AND THE FREQUENCY WITH WHICH PROCEEDS ARE PROVIDED TO THE CONSUMER.] -13- Senate Amendments to S.B.

15827. 8.

IF THE PROVIDER SOLICITS OR RECEIVES TIPS, GRATUITIES OR OTHER DONATIONS FROM CONSUMERS, MISLEAD OR DECEIVE CONSUMERS ABOUT THE VOLUNTARY NATURE OF THE TIPS, GRATUITIES OR OTHER DONATIONS OR MAKE REPRESENTATIONS THAT THE TIPS, GRATUITIES OR OTHER DONATIONS WILL BENEFIT ANY INDIVIDUAL, INCLUDING THE CONSUMER, OR ARE NECESSARY TO OFFER EARNED WAGE ACCESS - 10 - S.B.

1582 SERVICES, INCLUDING THE AMOUNT OF PROCEEDS THE CONSUMER IS ELIGIBLE TO REQUEST AND THE FREQUENCY WITH WHICH PROCEEDS ARE PROVIDED TO THE CONSUMER.

8.

CHARGE FEES [OFFOR MORE THAN] [FOR DELIVERY OR EXPEDITED DELIVERY OF PROCEEDS THAT EXCEED]EXCEED $5 FOR ANY ADVANCE THAT IS EQUAL TO OR LESS THAN $75 OR $7.50 FOR ANY ADVANCE THAT IS MORE THAN $75.

[11.11.

OFFER EARNED WAGE ACCESS SERVICES, INCLUDING THE AMOUNT OF PROCEEDS A CONSUMER IS ELIGIBLE TO REQUEST AND THE FREQUENCY WITH WHICH PROCEEDS ARE PROVIDED TO A CONSUMERCONSUMER, THAT ISARE CONTINGENT ON WHETHER THE CONSUMER PAYS ANY TIP, GRATUITY OR OTHER DONATION OR ON THE SIZE OF THE TIP, GRATUITY OR OTHER DONATION.

A PROVIDER THAT IS REQUIRED TO BE LICENSED UNDER SECTION 6-1802 MAY SOLICIT OR RECEIVE TIPS, GRATUITIES OR OTHER DONATIONS ONLY ONE TIME PER TRANSACTION, AND THE PROVIDER MAY REQUEST THAT THE CONSUMER CONFIRM THE CONSUMER'S SELECTED TIP, GRATUITY OR OTHER DONATION ONE TIME PER TRANSACTION AND CONFIRM THE FINAL TRANSACTION ON THE COMPLETION SCREEN.]SCREEN. [C.] [D.] THE LIMITS SET FORTH IN SUBSECTION B, PARAGRAPH 6 OF THIS SECTION DO NOT APPLY TO A PROVIDER THAT IS:

D.

THE LIMITS SET FORTH IN SUBSECTION B, PARAGRAPH 6 OF THIS SECTION DO NOT APPLY TO A PROVIDER THAT IS:

[D.]E. [E.] A PROVIDER MAY USE THE MAILING ADDRESS PROVIDED BY A CONSUMER TO DETERMINE THE CONSUMER'S STATE OF RESIDENCE FOR THE PURPOSES OF THIS CHAPTER.

A PROVIDER MAY USE THE MAILING ADDRESS PROVIDED BY A CONSUMER TO DETERMINE THE CONSUMER'S STATE OF RESIDENCE FOR THE PURPOSES OF THIS CHAPTER.

A LOAN OR OTHER FORM OF CREDIT OR DEBTDEBT. [, AND THE PROVIDER IS NOT CONSIDERED A CREDITOR, DEBT COLLECTOR OR LENDER].

MONEY TRANSMISSIONTRANSMISSION. [, AND THE PROVIDER IS NOT CONSIDERED A MONEY TRANSMITTER].

B.- 11 - S.B.

NOTWITHSTANDING1582 ANYB. OTHER LAW, FEES PAID TO A LICENSEE IN ACCORDANCE WITH THIS CHAPTER ARE NOT CONSIDERED INTEREST OR FINANCE -14- Senate Amendments to S.B.

1582NOTWITHSTANDING ANY OTHER LAW, FEES PAID TO A LICENSEE IN ACCORDANCE WITH THIS CHAPTER ARE NOT CONSIDERED INTEREST OR FINANCE CHARGES.

A VOLUNTARY TIP, GRATUITY OR OTHER DONATION PAID BY A CONSUMER TO A LICENSEE IN ACCORDANCE WITH THIS CHAPTER IS NOT CONSIDERED A FINANCE CHARGE [UNDERUNDER STATE LAW].LAW.

ON OR BEFORE JULY 1 OF EACH YEAR, A PROVIDER THAT IS REQUIRED TO BE LICENSED UNDER SECTION 6-1802 SHALL SUBMIT AN ANNUAL REPORT TO THE [DIVISION]DEPARTMENT [DEPARTMENT] THAT INCLUDES ALL OF THE FOLLOWING INFORMATION RELATED TO EARNED WAGE ACCESS SERVICES THAT THE PROVIDER PROVIDED IN THIS STATE DURING THE PRIOR YEAR:

THE TOTAL NUMBER OF TRANSACTIONS IN WHICH THE PROVIDER PROVIDED PROCEEDS TO CONSUMERS[.CONSUMERS AND THE TOTAL NUMBER OF TRANSACTIONS IN WHICH:

] [AND THE TOTAL NUMBER OF TRANSACTIONS IN WHICH:

(c) THE CONSUMER OBTAINED PROCEEDS AT NO COST.]COST. 3.

3.

THE TOTAL DOLLAR AMOUNT OF[:]OF: [(a)] FEES[, ] [THE PROVIDER RECEIVED FROM CONSUMERS].

([b)](a) VOLUNTARYFEES TIPS, GRATUITIES OR OTHER DONATIONS THE PROVIDER RECEIVED FROM CONSUMERS.

(b) VOLUNTARY TIPS, GRATUITIES OR OTHER DONATIONS THE PROVIDER RECEIVED FROM CONSUMERS.

THE TOTAL NUMBER OF TRANSACTIONS IN WHICH THE PROVIDER PROVIDED [ANDAND THE TOTAL AMOUNT OF]OF REIMBURSEMENTS TO A CONSUMER FOR OVERDRAFT OR NONSUFFICIENT FUND FEES THAT WERE IMPOSED ON THAT CONSUMER.

THE TOTAL [AMOUNT]NUMBER [NUMBER] OF CLAIMS MADE BY THE PROVIDER AGAINST A CONSUMER FOR FRAUD OR UNLAWFUL ACTS, INCLUDING THE DOLLAR AMOUNTS OF ANY CLAIM.

THE [DIVISION]DEPARTMENT [DEPARTMENT] MAY REQUEST FOLLOW-UP INFORMATION THAT INCLUDES:

THE [DEPUTY] DIRECTOR MAY EXTEND THE DEADLINE FOR THE ANNUAL REPORT FOR GOOD CAUSE.

THE [DIVISION]DEPARTMENT [DEPARTMENT] MAY TAKE DISCIPLINARY ACTION AGAINST A PROVIDER IF THE PROVIDER FAILS TO SUBMIT A TIMELY REPORT AS REQUIRED UNDER THIS SECTION.

[D.- 12 - S.B.

NOTWITHSTANDING1582 ANYD. OTHER LAW, THE DIVISION SHALL KEEP CONFIDENTIAL THE INFORMATION CONTAINED IN THE ANNUAL REPORT UNDER SUBSECTION A OF THIS SECTION, AND THAT INFORMATION IS NOT SUBJECT TO -15- Senate Amendments to S.B.

1582A PUBLICPROVIDER COPYINGREQUIRED ORTO PUBLICBE INSPECTIONLICENSED UNDER SECTION 39-121.6-1802 SHALL KEEP SUCH BOOKS AND RECORDS THAT, IN THE OPINION OF THE DEPARTMENT, WILL ENABLE THE DEPARTMENT TO DETERMINE WHETHER THE PROVIDER IS IN COMPLIANCE WITH THIS CHAPTER FOR AT LEAST FIVE YEARS.

THE DIVISION MAY PREPARE AND MAKE PUBLICLY AVAILABLE AN AGGREGATED AND ANONYMIZED ANALYSIS OF THE INFORMATION SUBMITTED BY ALL PROVIDERS UNDER THIS SECTION.

E.] [D.] A PROVIDER REQUIRED TO BE LICENSED UNDER SECTION 6-1802 SHALL KEEP SUCH BOOKS AND RECORDS THAT, IN THE OPINION OF THE [DIVISION] [DEPARTMENT], WILL ENABLE THE [DIVISION] [DEPARTMENT] TO DETERMINE WHETHER THE PROVIDER IS IN COMPLIANCE WITH THIS CHAPTER [FOR AT LEAST FIVE YEARS].

THE [DIVISION]DEPARTMENT [DEPARTMENT] MAY DENY RENEWAL OF A LICENSE OR SUSPEND OR REVOKE A LICENSE IF THE [DIVISION]DEPARTMENT [DEPARTMENT] FINDS THAT [ATHE ] [THE] LICENSEE:

HAS FAILED TO PAY THE ANNUAL RENEWAL FEES.

3.

3.

HAS FAILED TO HAVE OR MAINTAIN THE SURETY BOND REQUIRED BY SECTION 6-1802, SUBSECTION E.

HAS FAILEDVIOLATED TOA HAVERULE, ORDER OR MAINTAINANY THEPROVISION SURETYOF BONDTHIS REQUIREDTITLE. BY SECTION 6-1802, SUBSECTION [F ] [E].

[EITHER KNOWINGLY OR WITHOUT THE EXERCISE OF DUE CARE TO PREVENT A VIOLATION,] HAS VIOLATED A RULE, ORDER OR ANY PROVISION OF THIS TITLE.

6.

THE [DIVISION]DEPARTMENT [DEPARTMENT] MAY ALSO DENY RENEWAL OF A LICENSE OR SUSPEND OR REVOKE A LICENSE IF THE [DEPUTY] DIRECTOR FINDS THAT ANY FACT OR CONDITION EXISTS THAT, IF IT HAD EXISTED AT THE TIME OF THE ORIGINAL APPLICATION FOR THE LICENSE, WOULD HAVE CLEARLY WARRANTED THE [DEPUTY] DIRECTOR TO REFUSE TO ISSUE THE LICENSE.

[C.C.

A LICENSEE MAY APPEAL A DENIAL OF A RENEWAL APPLICATION OR A SUSPENSION OR REVOCATION PURSUANT TO TITLE 41, CHAPTER 6, ARTICLE 10.]10. 6-1807.

6-1807.

approval of director A PERSON LICENSED UNDER THIS CHAPTER MAY NOT MERGE WITH, ACQUIRE CONTROL OVER OR AGREE TO BE ACQUIRED BY ANOTHER ENTITY WITHOUT THE APPROVAL OF THE [DEPUTY] DIRECTOR.

THIS SECTION DOES NOT PROHIBIT A LICENSEE OR OTHER PERSON FROM NEGOTIATING OR ENTERING INTO AGREEMENTS SUBJECT TO THE CONDITION THAT THE MERGER OR ACQUISITION OF CONTROL BECOMES EFFECTIVE ON APPROVAL OF THE [DEPUTY] DIRECTOR.

rules THE [DEPUTY] DIRECTOR MAY ADOPT RULES TO IMPLEMENT THIS CHAPTER.

-16-- Senate13 Amendments- to S.B.

1582 <<Sec.

5.

Requirements for enactment;

two-thirds vote Pursuant to article IX, section 22, Constitution of Arizona, this act is effective only on the affirmative vote of at least two-thirds of the members of each house of the legislature and is effective immediately on the signature of the governor or, if the governor vetoes this act, on the subsequent affirmative vote of at least three-fourths of the members of each house of the legislature.>> Enroll and engross to conform Amend title to conform VENDEN "VINCE" LEACH 1582LEACH.docx 02/18/2025 03:07 PM C:

SK -17-