AN ACT relating to earned wage access services.

Establish Subtitle 13 of KRS Chapter 286, the Kentucky Financial Services Code, and create new sections to regulate earned wage access services; define terms; establish exemptions from the subtitle; establish licensing requirements for certain earned wage access services providers; establish requirements for change of control of a licensee; provide circumstances under which the commissioner of the Department of Financial Institutions is authorized to take adverse action, enter emergency orders, deny a license, or take other…

Introduced: February 13, 2025

Last action: February 19, 2025

To Banking & Insurance (S)

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This bill creates a new licensing and oversight system in Kentucky for "earned wage access" services — companies that let workers access a portion of their already-earned pay before their regular payday. It sets rules for how these providers must operate, what consumer protections they must follow, and gives the Department of Financial Institutions the authority to license, examine, and take action against providers who violate the law. Who it may affect: workers who use early pay advance apps or services, earned wage access companies operating in Kentucky, and the Department of Financial Institutions.

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