An Act To Regulate Earned Wage Access Services Providers

LD 1915 establishes a regulatory framework for earned wage access (EWA) services in Maine, requiring providers to register with the Department of Professional and Financial Regulation and renew annually. The bill defines key terms like "earned but unpaid income" (wages earned but not yet paid) and "provider" to clarify scope, excluding payroll services and employers offering early pay directly. Registration requires providers to demonstrate financial soundness and good character, with the state assessing applications for compliance. This law directly affects EWA service companies operating in Maine, ensuring they meet state standards before offering services to residents who want access to earned but unpaid wages.