HB1294: Commercial Law - Credit Regulation - Earned Wage Access and Credit Modernization
Legislative Summary
Subjecting certain earned wage access products to the Maryland Consumer Loan Law and other provisions that regulate entities that provide consumer credit; restricting the acceptance of tips by certain lenders under certain circumstances; providing for the licensing or registration of certain entities offering earned wage access products with certain exemptions; regulating earned wage access service agreements; limiting the costs and fees associated with obtaining an earned wage access product; etc.
Demographic Impact
Overall analysis of equity impact
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Bill History
Amendments
Favorable with Amendments 993222/1 Adopted
Favorable with Amendments 993222/1 Adopted
