Colorado HB1046 regulates earned-wage access services, requiring providers to obtain a license and setting standards for their operations.

Colorado HB1046 establishes regulations for earned-wage access services, which allow consumers to access their earned but unpaid income before the normal pay date. The bill mandates that providers obtain a license from the administrator, who is the assistant attorney general or their designee. License applications must include the provider's business details, a fee, and other information as required. The administrator reviews applications and issues licenses if the provider's financial responsibility, character, and fitness are sufficient.

Colorado HB1046 regulates earned-wage access services, requiring providers to obtain a license and setting standards for their operations.

Colorado HB1046 establishes regulations for earned-wage access services, which allow consumers to access their earned but unpaid income before the normal pay date. The bill mandates that providers obtain a license from the administrator, who is the assistant attorney general or their designee. License applications must include the provider's business details, a fee, and other information as required. The administrator reviews applications and issues licenses if the provider's financial responsibility, character, and fitness are sufficient.