Establishes licensing and regulation for businesses providing earned wage access services in Washington.

The bill establishes a new chapter for the licensing and regulation of businesses providing earned wage access services in Washington. It mandates that no person may offer or provide these services without a license starting July 1, 2026. The Department of Financial Institutions is tasked with enforcing the licensing and regulation of these businesses. The bill outlines specific duties and powers of the director, including the ability to issue cease and desist orders, impose fines, and conduct investigations.

Establishes licensing and regulation for businesses providing earned wage access services in Washington.

The bill establishes a new chapter for the licensing and regulation of businesses providing earned wage access services in Washington. It mandates that no person may offer or provide these services without a license starting July 1, 2026. The Department of Financial Institutions is tasked with enforcing the licensing and regulation of these businesses. The bill outlines specific duties and powers of the director, including the ability to issue cease and desist orders, impose fines, and conduct investigations.