Bill Text: VA HB1921 | 2023 | Regular Session | Comm Sub
Bill Title: Earned wage access services; licensure requirements, prohibited practices, penalties.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Failed) 2023-02-25 - Failed to pass in House [HB1921 Detail]
Download: Virginia-2023-HB1921-Comm_Sub.html
Be it enacted by the General Assembly of Virginia:
1. §1. The Bureau of Financial Institutions (the Bureau) of the State Corporation Commission shall convene a stakeholder process regarding the provision or offering of earned wage access services that includes representatives from providers of earned wage access services, consumer advocates, and the Office of the Attorney General. Such stakeholder process shall include a review of existing business models and any regulation of earned wage access services in other states. The Bureau shall report the findings and recommendations, if any, of the stakeholder process, including any recommendations for statutory or regulatory changes regarding earned wage access services, to the General Assembly by November 1, 2023.