Ohio SB117 regulates the provision of earned wage access services, requiring registration and compliance with specific rules.

Ohio SB117 establishes regulations for earned wage access services, which allow consumers to access their earned but unpaid income. The bill mandates that providers obtain a certificate of registration from the superintendent of financial institutions. It outlines specific requirements for registration, including fees and background checks. Registered providers must comply with rules such as not charging late fees, not requiring credit reports, and clearly disclosing fees and terms.

Ohio SB117 regulates the provision of earned wage access services, requiring registration and compliance with specific rules.

Ohio SB117 establishes regulations for earned wage access services, which allow consumers to access their earned but unpaid income. The bill mandates that providers obtain a certificate of registration from the superintendent of financial institutions. It outlines specific requirements for registration, including fees and background checks. Registered providers must comply with rules such as not charging late fees, not requiring credit reports, and clearly disclosing fees and terms.