TO ESTABLISH THE EARNED WAGE ACCESS SERVICES ACT.

HB 1517, now Act 347, prohibits earned wage access service providers from making false, misleading, or deceptive statements about their services. It directly affects companies offering early wage access (like employer-sponsored apps or third-party platforms), requiring clear disclosures to workers. The law modifies existing state code (sections 23-52-203 and 23-52-204) to clarify that banking, savings, and credit union entities remain exempt. This policy change ensures transparency for workers using these services while excluding traditional financial institutions from the rules.