Commercial Law - Earned Wage Access - Revisions

HB 237 prohibits earned wage access providers (companies offering early access to earned wages) from accepting tips from consumers. The bill requires providers to: (1) set any tip option to zero by default, (2) clearly state that tips don’t influence loan terms or benefit specific employees, and (3) offer at least one no-cost service option. It also mandates that providers return tips that would push interest rates above legal limits within 7 days. The law directly affects consumers using these services and providers who must now comply with specific disclosure and fee transparency rules.