SB137 regulates earned wage access services providers in Delaware, requiring licensing and setting operational standards.

SB137 amends Delaware law to regulate earned wage access services providers, requiring them to obtain a license from the State Bank Commissioner. The bill outlines specific licensing requirements, including fees, surety bonds, and irrevocable letters of credit. It mandates that providers comply with certain operational standards, such as clearly disclosing fees and the voluntary nature of tips, gratuities, and donations. Providers are prohibited from using certain collection practices and must maintain detailed records.

SB137 regulates earned wage access services providers in Delaware, requiring licensing and setting operational standards.

SB137 amends Delaware law to regulate earned wage access services providers, requiring them to obtain a license from the State Bank Commissioner. The bill outlines specific licensing requirements, including fees, surety bonds, and irrevocable letters of credit. It mandates that providers comply with certain operational standards, such as clearly disclosing fees and the voluntary nature of tips, gratuities, and donations. Providers are prohibited from using certain collection practices and must maintain detailed records.