MD
Maryland House Bill HB1425

Maryland 2024 Regular Session

Maryland House Bill HB1425 Compare Versions

Only one version of the bill is available at this time.
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33 EXPLANATION: CAPITALS INDICATE MAT TER ADDED TO EXISTIN G LAW.
44 [Brackets] indicate matter deleted from existing law.
55 *hb1425*
66
77 HOUSE BILL 1425
88 I4, I3 4lr2345
99 CF SB 998
1010 By: Delegate Fraser–Hidalgo
1111 Introduced and read first time: February 9, 2024
1212 Assigned to: Economic Matters
1313
1414 A BILL ENTITLED
1515
1616 AN ACT concerning 1
1717
1818 Commercial Law – Earned Wage Access Services 2
1919
2020 FOR the purpose of requiring a certain provider of earned wage access services to register 3
2121 with the Commissioner of Financial Regulation; requiring a provider to file a certain 4
2222 surety bond or an irrevocable letter of credit with the Commissioner in a certain 5
2323 manner; regulating providers and earned wage access services; requiring, on or 6
2424 before a certain date each year, a provider to submit a certain report to the 7
2525 Commissioner; authorizing a certain consumer to submit a written complaint to the 8
2626 Commissioner under certain circumstances; conferring on the Commissioner certain 9
2727 investigatory and enforcement authority; establishing certain requirements 10
2828 regarding the confidentiality of certain information and information sharing; 11
2929 authorizing, subject to certain conditions, a provider to provide earned wage access 12
3030 services without being registered with the Commissioner until a certain date; and 13
3131 generally relating to earned wage access services and providers. 14
3232
3333 BY adding to 15
3434 Article – Commercial Law 16
3535 Section 14–4601 through 14–4611 to be under the new subtitle “Subtitle 46. Earned 17
3636 Wage Access Services” 18
3737 Annotated Code of Maryland 19
3838 (2013 Replacement Volume and 2023 Supplement) 20
3939
4040 SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND, 21
4141 That the Laws of Maryland read as follows: 22
4242
4343 Article – Commercial Law 23
4444
4545 SUBTITLE 46. EARNED WAGE ACCESS SERVICES. 24
4646
4747 14–4601. 25 2 HOUSE BILL 1425
4848
4949
5050
5151 (A) IN THIS SUBTITLE THE FOLLOWING WORDS HAVE THE MEANINGS 1
5252 INDICATED. 2
5353
5454 (B) “BUSINESS ENTITY” MEANS A CORPORATION , A LIMITED LIABILITY 3
5555 COMPANY, A PARTNERSHIP , AN ASSOCIATION , OR ANY OTHER COMMERC IAL ENTITY. 4
5656
5757 (C) “COMMISSIONER ” MEANS THE COMMISSIONER OF FINANCIAL 5
5858 REGULATION OF THE MARYLAND DEPARTMENT OF LABOR. 6
5959
6060 (D) (1) “CONSUMER” MEANS AN INDIVIDUAL WHO RESIDES IN THE 7
6161 STATE. 8
6262
6363 (2) “CONSUMER” INCLUDES AN INDIVIDU AL FOR WHOM THE 9
6464 PROVIDER USES A MAIL ING ADDRESS OR STATE OF RESIDENCE PROVIDE D BY THE 10
6565 INDIVIDUAL TO DETERM INE THAT THE INDIVID UAL RESIDES IN THE STATE. 11
6666
6767 (E) “CONSUMER–DIRECTED EARNED WAGE ACCESS S ERVICES” MEANS THE 12
6868 BUSINESS OF DELIVERI NG TO A CONSUMER ACC ESS TO EARNED BUT UN PAID 13
6969 INCOME THAT IS BASED ON THE CONSUMER ’S REPRESENTATIONS AN D THE 14
7070 PROVIDER’S REASONABLE DETERMI NATION OF THE CONSUM ER’S EARNED BUT 15
7171 UNPAID INCOME . 16
7272
7373 (F) “EARNED BUT UNPAID INC OME” MEANS SALARY , WAGES, 17
7474 COMPENSATION , OR OTHER INCOME THAT A CONSUMER OR AN EMP LOYER 18
7575 REPRESENTS , AND THAT A PROVIDER REASONABLY DETERMINE S, HAS BEEN 19
7676 EARNED OR ACCRUED TO THE BENEFIT OF THE C ONSUMER IN EXCHANGE FOR THE 20
7777 CONSUMER ’S PROVISION OF SERVICES T O OR ON BEHALF OF TH E EMPLOYER , 21
7878 INCLUDING ON AN HOUR LY, PROJECT–BASED, PIECEWORK, OR OTHER BASIS AND 22
7979 INCLUDING CIRCUMSTAN CES IN WHICH THE CON SUMER IS ACTING AS A N 23
8080 INDEPENDENT CONTRACT OR OF THE EMPLOYER , BUT HAS NOT, AT THE TIME OF THE 24
8181 PAYMENT OF PROCEEDS , BEEN PAID TO THE CON SUMER BY THE EMPLOYE R. 25
8282
8383 (G) “EARNED WAGE ACCESS SE RVICES” MEANS THE BUSINESS O F 26
8484 PROVIDING CONSUMER –DIRECTED EARNED WAGE ACCESS SERVICES OR 27
8585 EMPLOYER–INTEGRATED EARNED WA GE ACCESS SERVICES O R BOTH. 28
8686
8787 (H) (1) “EMPLOYER” MEANS: 29
8888
8989 (I) A PERSON WHO EMPLOYS A CONSUMER ; OR 30
9090
9191 (II) ANY OTHER PERSON THAT IS CONTRACTUALLY OBL IGATED 31
9292 TO PAY A CONSUMER EA RNED BUT UNPAID INCO ME. 32 HOUSE BILL 1425 3
9393
9494
9595
9696 (2) “EMPLOYER” DOES NOT INCLUDE : 1
9797
9898 (I) A CUSTOMER OF AN EMPLO YER; OR 2
9999
100100 (II) ANY OTHER PERSON WHOSE OBLIGATION TO MAKE A 3
101101 PAYMENT OF SALARY , WAGES, COMPENSATION , OR OTHER INCOME TO A CONSUMER 4
102102 IS NOT BASED ON THE PROVISION OF SERVICE S BY THAT CONSUMER F OR OR ON 5
103103 BEHALF OF THE PERSON . 6
104104
105105 (I) “EMPLOYER–INTEGRATED EARNED WA GE ACCESS SERVICES ” MEANS 7
106106 THE BUSINESS OF DELIVERING TO CONSUMERS ACCESS TO EARNED BUT UNPAID 8
107107 INCOME THAT IS BASED ON EMPLOYMENT , INCOME, OR ATTENDANCE DATA 9
108108 OBTAINED DIRECTLY OR INDIRECTLY FROM AN E MPLOYER. 10
109109
110110 (J) (1) “FEE” INCLUDES: 11
111111
112112 (I) A FEE IMPOSED BY A PRO VIDER FOR DELIVERY O R 12
113113 EXPEDITED DELIVERY OF P ROCEEDS TO A CONSUME R; AND 13
114114
115115 (II) A SUBSCRIPTION OR MEMB ERSHIP FEE IMPOSED B Y A 14
116116 PROVIDER FOR A BONA FIDE GROUP OF SERVIC ES THAT INCLUDES EAR NED WAGE 15
117117 ACCESS SERVICES . 16
118118
119119 (2) “FEE” DOES NOT INCLUDE A V OLUNTARY TIP , GRATUITY, OR 17
120120 OTHER DONATION. 18
121121
122122 (K) “NATIONWIDE MORTGAGE LICENSING SYSTEM AND REGISTRY” OR 19
123123 “NMLS” HAS THE MEANING STAT ED IN § 1–101 OF THE FINANCIAL INSTITUTIONS 20
124124 ARTICLE. 21
125125
126126 (L) “OUTSTANDING PROCEEDS ” MEANS PROCEEDS REMIT TED TO A 22
127127 CONSUMER BY A PROVID ER THAT HAVE NOT YET BEEN REPAID TO THE PROVID ER. 23
128128
129129 (M) “PERSON” INCLUDES AN INDIVIDU AL, A CORPORATION , A GOVERNMENT 24
130130 OR A GOVERNMENTAL SU BDIVISION OR UNIT , A BUSINESS TRUST , A STATUTORY 25
131131 TRUST, AN ESTATE, A TRUST, A PARTNERSHIP , AN ASSOCIATION , TWO OR MORE 26
132132 PERSONS HAVING A JOI NT OR COMMON INTEREST , AND ANY OTHER LEGAL OR 27
133133 COMMERCIAL ENTITY . 28
134134
135135 (N) “PROCEEDS” MEANS A PAYMENT TO A CONSUMER BY A PROVID ER THAT 29
136136 IS BASED ON EARNED B UT UNPAID INCOME . 30
137137 4 HOUSE BILL 1425
138138
139139
140140 (O) (1) “PROVIDER” MEANS A BUSINESS ENT ITY THAT IS IN THE 1
141141 BUSINESS OF PROVIDIN G EARNED WAGE ACCESS SERVICES TO C ONSUMERS. 2
142142
143143 (2) “PROVIDER” DOES NOT INCLUDE : 3
144144
145145 (I) A SERVICE PROVIDER , SUCH AS A PAYROLL SE RVICE 4
146146 PROVIDER, WHOSE ROLE MAY INCLU DE VERIFYING THE AVA ILABLE EARNINGS BUT 5
147147 IS NOT CONTRACTUALLY OBLIGATED TO FUND AN Y PROCEEDS DELIVERED AS PART 6
148148 OF AN EARNED WAGE AC CESS SERVICE; OR 7
149149
150150 (II) AN EMPLOYER THAT OFFE RS A PORTION OF SALA RY, 8
151151 WAGES, OR COMPENSATION DIRE CTLY TO ITS EMPLOYEE S OR INDEPENDENT 9
152152 CONTRACTORS BEFORE T HE NORMALLY SCHEDULE D PAY DATE. 10
153153
154154 (P) “REGISTRANT” MEANS A BUSINESS ENT ITY THAT IS REGISTERED WI TH 11
155155 THE COMMISSIONER UNDER TH IS SUBTITLE AS A PRO VIDER. 12
156156
157157 14–4602. 13
158158
159159 A PROVIDER SHALL REGIS TER EACH YEAR WITH T HE COMMISSIONER UNDER 14
160160 THIS SUBTITLE. 15
161161
162162 14–4603. 16
163163
164164 (A) TO REGISTER WITH THE COMMISSIONER , A PROVIDER SHALL : 17
165165
166166 (1) SUBMIT TO THE COMMISSIONER A REGIST RATION ON THE FORM 18
167167 THAT THE COMMISSIONER PROVIDES ; 19
168168
169169 (2) UNLESS GRANTED AN EXE MPTION BY THE COMMISSIONER , FILE 20
170170 WITH THE COMMISSIONER A BOND O R BOND ALTERNATIVE A S REQUIRED UNDER § 21
171171 14–4604 OF THIS SUBTITLE; AND 22
172172
173173 (3) FULFILL ANY OTHER REQUIREMENTS FOR REG ISTRATION. 23
174174
175175 (B) THE REGISTRATION SHAL L INCLUDE ANY INFORM ATION THAT THE 24
176176 COMMISSIONER REQUIRES BY REGULATION . 25
177177
178178 (C) A REGISTRATION IS NOT COMPLETE UNLESS THE REGISTRATION MEETS 26
179179 THE REQUIREMENTS OF SUBSECTIONS (A) AND (B) OF THIS SECTION. 27
180180
181181 (D) EXCEPT AS PROVIDED IN § 14–4610 OF THIS SUBTITLE , ALL FEES AND 28
182182 OTHER REVENUES COLLE CTED UNDER THIS SUBT ITLE SHALL BE DEPOSI TED INTO 29 HOUSE BILL 1425 5
183183
184184
185185 THE NON–DEPOSITORY SPECIAL FUND ESTABLISHED UNDE R § 2–120 OF THE 1
186186 FINANCIAL INSTITUTIONS ARTICLE. 2
187187
188188 (E) THE COMMISSIONER MAY REQUIRE A P ROVIDER TO REGISTER 3
189189 THROUGH NMLS OR THROUGH OTHER MEA NS SPECIFIED BY THE COMMISSIONER 4
190190 BY REGULATION . 5
191191
192192 14–4604. 6
193193
194194 (A) UNLESS THE COMMISSIONER GRANTS A N EXEMPTION IN ACCOR DANCE 7
195195 WITH SUBSECTION (B)(9) OF THIS SECTION AND EXCEPT AS PROVIDED IN 8
196196 SUBSECTION (C) OF THIS SECTION , A PROVIDER SHALL FIL E A SURETY BOND OR 9
197197 IRREVOCABLE LETTER O F CREDIT WITH THE COMMISSIONER . 10
198198
199199 (B) (1) THE BOND SHALL RUN TO THE COMMISSIONER , AS OBLIGEE, FOR 11
200200 THE BENEFIT OF : 12
201201
202202 (I) THE STATE; AND 13
203203
204204 (II) ANY CONSUMER WH O IS INJURED BY A VI OLATION OF THIS 14
205205 SUBTITLE COMMITTED B Y A PROVIDER. 15
206206
207207 (2) THE BOND SHALL BE : 16
208208
209209 (I) IN AN AMOUNT NOT EXCE EDING $100,000, AS DETERMINED 17
210210 BY THE COMMISSIONER BY REGUL ATION; 18
211211
212212 (II) ISSUED BY A SURETY CO MPANY THAT: 19
213213
214214 1. IS AUTHORIZED TO DO BUSINESS IN THE STATE; AND 20
215215
216216 2. HOLDS A CERTIFICATE O F AUTHORITY ISSUED B Y THE 21
217217 MARYLAND INSURANCE COMMISSIONER ; AND 22
218218
219219 (III) CONDITIONED ON THE PR OVIDER’S COMPLIANCE WITH AL L 23
220220 STATE AND FEDERAL LAW S AND REGULATIONS GO VERNING PROVIDERS . 24
221221
222222 (3) THE LIABILITY OF THE SURET Y: 25
223223
224224 (I) SHALL BE CONTINUOUS ; 26
225225
226226 (II) MAY NOT BE AGGREGATED OR CUMULATIVE , WHETHER OR 27
227227 NOT THE BOND IS RENE WED, CONTINUED, REPLACED, OR MODIFIED; 28 6 HOUSE BILL 1425
228228
229229
230230
231231 (III) MAY NOT BE DETERMINED BY ADDING TOGETHER T HE 1
232232 PENAL SUM OF THE BON D, OR ANY PAR T OF THE PENAL SUM O F THE BOND, IN 2
233233 EXISTENCE AT ANY TWO OR MORE POINTS IN TI ME; 3
234234
235235 (IV) SHALL BE CONSIDERED T O BE ONE CONTINUOUS 4
236236 OBLIGATION, REGARDLESS OF INCREA SES OR DECREASES IN THE PENAL SUM OF 5
237237 THE BOND; 6
238238
239239 (V) MAY NOT BE AFFECTED B Y: 7
240240
241241 1. THE INSOLVENCY OR BANKRU PTCY OF THE 8
242242 PROVIDER; 9
243243
244244 2. ANY MISREPRESENTATION , BREACH OF WARRANTY , 10
245245 FAILURE TO PAY A PRE MIUM, OR ANY OTHER ACT OR OMISSION OF THE PROV IDER 11
246246 OR AN AGENT OF THE P ROVIDER; OR 12
247247
248248 3. THE SUSPENSION OF THE PROVIDER’S 13
249249 REGISTRATION ; 14
250250
251251 (VI) MAY NOT REQUIRE AN AD MINISTRATIVE ENFORCE MENT 15
252252 ACTION BY THE COMMISSIONER AS A PRE REQUISITE TO LIABILI TY; AND 16
253253
254254 (VII) SHALL CONTINUE FOR 3 YEARS AFTER THE LATE R OF THE 17
255255 DATE ON WHICH : 18
256256
257257 1. THE BOND IS CANCELED ; OR 19
258258
259259 2. THE PROVIDER , FOR ANY REASON, CEASES TO BE 20
260260 REGISTERED. 21
261261
262262 (4) (I) A BOND MAY BE CANCELED BY THE SURETY OR THE 22
263263 PROVIDER BY GIVING N OTICE OF CANCELLATIO N TO THE COMMISSIONER . 23
264264
265265 (II) NOTICE UNDER SUBPARAG RAPH (I) OF THIS PARAGRAPH 24
266266 SHALL: 25
267267
268268 1. BE IN WRITING; AND 26
269269
270270 2. BE SENT BY CERTIFIED MAIL , RETURN RECEIPT 27
271271 REQUESTED . 28
272272 HOUSE BILL 1425 7
273273
274274
275275 (III) A CANCELLATION OF A BO ND UNDER THIS PARAGR APH IS 1
276276 NOT EFFECTIVE UNTIL 90 DAYS AFTER THE COMMISSIONER RECEIVES A NOTICE OF 2
277277 CANCELLATION . 3
278278
279279 (5) A CLAIM AGAINST THE BO ND MAY BE FILED WITH THE SURETY BY: 4
280280
281281 (I) A CLAIMANT; OR 5
282282
283283 (II) THE COMMISSIONER FOR THE BENEFIT OF A CLAIMAN T OR 6
284284 THE STATE. 7
285285
286286 (6) IF THE AMOUNT OF CLAI MS AGAINST A BOND EX CEEDS THE 8
287287 AMOUNT OF THE BOND , THE SURETY: 9
288288
289289 (I) SHALL PAY THE AMOUNT OF THE BOND TO THE 10
290290 COMMISSIONER FOR PRO RATA DISTRIBUTION TO CL AIMANTS; AND 11
291291
292292 (II) IS RELIEVED OF LIABIL ITY UNDER THE BOND . 12
293293
294294 (7) IF THE PENAL AMOUNT O F A BOND IS REDUCED BY PAYMENT OF A 13
295295 CLAIM OR JUDGMENT , THE PROVIDER SHALL F ILE A NEW OR ADDITIO NAL BOND 14
296296 WITH THE COMMISSIONER . 15
297297
298298 (8) A PENALTY IMPOSED AGAINST A PR OVIDER UNDER § 14–4610 OF 16
299299 THIS SUBTITLE MAY BE PAID FROM THE PROCEE DS OF A BOND REQUIRE D UNDER 17
300300 THIS SECTION. 18
301301
302302 (9) IN GRANTING AN EXEMPT ION FROM THE BONDING REQUIREMENT 19
303303 UNDER SUBSECTION (A) OF THIS SECTION , THE COMMISSIONER SHALL CO NSIDER 20
304304 THE CONDITIONS THE COMMISSIONER ESTABLIS HES BY REGULATION . 21
305305
306306 (10) IN DETERMINING THE AM OUNT OF THE BOND UND ER PARAGRAPH 22
307307 (2)(I) OF THIS SUBSECTION , THE COMMISSIONER SHALL CO NSIDER THE FACTORS 23
308308 THE COMMISSIONER ESTABLIS HES BY REGULATION . 24
309309
310310 (C) (1) INSTEAD OF SATISFYING THE BONDING REQUIREMENT UNDER 25
311311 SUBSECTION (A) OF THIS SECTION, A PROVIDER MAY FILE WITH THE COMMISSIONER 26
312312 AN IRREVOCABLE LETTE R OF CREDIT FROM A F INANCIAL INSTITUTION INSURED BY 27
313313 THE FEDERAL DEPOSIT INSURANCE CORPORATION . 28
314314
315315 (2) THE IRREVOCABL E LETTER OF CREDIT S HALL BE IN AN AMOUNT 29
316316 EQUAL TO THE BOND RE QUIRED UNDER SUBSECT ION (B) OF THIS SECTION. 30
317317 8 HOUSE BILL 1425
318318
319319
320320 (D) THE COMMISSIONER SHALL AD OPT REGULATIONS ESTA BLISHING: 1
321321
322322 (1) THE CONDITIONS UNDER WHICH THE COMMISSIONER MAY GRAN T 2
323323 TO A PROVIDER AN EXE MPTION F ROM THE BONDING REQU IREMENT UNDER 3
324324 SUBSECTION (A) OF THIS SECTION; AND 4
325325
326326 (2) THE FACTORS THE COMMISSIONER SHALL CO NSIDER IN 5
327327 DETERMINING THE AMOU NT OF THE BOND UNDER SUBSECTION (B)(2)(I) OF THIS 6
328328 SECTION. 7
329329
330330 14–4605. 8
331331
332332 (A) A PROVIDER REQUIRED TO REGISTER UNDER THIS SUBTITLE SHALL : 9
333333
334334 (1) DEVELOP AND IMPLEMENT POLICIES AND PROCEDU RES TO 10
335335 RESPOND TO QUESTIONS RAISED BY CONSUMERS AND ADDRESS COMPLAIN TS FROM 11
336336 CONSUMERS IN AN EXPE DIENT MANNER ; 12
337337
338338 (2) UNDER THE TERMS OF AN Y AGREEMENT FOR THE PROVISION OF 13
339339 EARNED WAGE AC CESS SERVICES THAT I S ENTERED INTO , RENEWED, OR MODIFIED 14
340340 ON OR AFTER OCTOBER 1, 2024, OFFER TO CONSUMERS A T LEAST ONE REASONAB LE 15
341341 OPTION TO OBTAIN PRO CEEDS AT NO COST AND CLEARLY EXPLAIN HOW TO ELECT 16
342342 THE NO–COST OPTION; 17
343343
344344 (3) BEFORE ENTERING INTO AN AGREEMENT WITH A CON SUMER FOR 18
345345 THE PROVISION OF EAR NED WAGE ACCESS SERV ICES: 19
346346
347347 (I) INFORM THE CONSUMER O F THE CONSUMER ’S RIGHTS 20
348348 UNDER THE AGREEMENT ; AND 21
349349
350350 (II) FULLY AND CLEARLY DIS CLOSE ALL FEES ASSOC IATED 22
351351 WITH THE EARNED WAGE ACCESS SERVICES ; 23
352352
353353 (4) INFORM THE CONSUMER O F ANY MATERIAL CHANG ES TO THE 24
354354 TERMS AND CONDITIONS OF THE EARNED WAGE A CCESS SERVICES BEFOR E 25
355355 IMPLEMENTING THE CHA NGES FOR THE CONSUME R; 26
356356
357357 (5) SUBJECT TO SUBSECTION (B) OF THIS SECTION , ALLOW THE 27
358358 CONSUMER TO CANCEL T HE USE OF THE PROVID ER’S EARNED WAGE ACCESS 28
359359 SERVICES AT ANY TIME , WITHOUT INCURRING A CANCELLATION FEE OR PENALTY 29
360360 IMPOSED BY THE PROVI DER; 30
361361 HOUSE BILL 1425 9
362362
363363
364364 (6) COMPLY WITH ALL APPLI CABLE LOCAL , STATE, AND FEDERAL 1
365365 PRIVACY AND INFORMAT ION SECURITY LAWS ; 2
366366
367367 (7) IF THE PROVIDER SOLIC ITS, CHARGES, OR RECEIVES A TIP , 3
368368 GRATUITY, OR OTHER DONATION FR OM A CONSUMER , CLEARLY AND 4
369369 CONSPICUOUSLY DISCLO SE: 5
370370
371371 (I) TO THE CONSUMER IMMED IATELY BEFORE EACH 6
372372 TRANSACTION THAT A T IP, GRATUITY, OR OTHER DONATION AM OUNT IS VOLUNTARY 7
373373 AND MAY BE ZERO ; AND 8
374374
375375 (II) IN THE PROVIDER ’S SERVICE CONTRACT W ITH THE 9
376376 CONSUMER AND ELSEWHE RE THAT TIPS , GRATUITIES, OR DONATIONS ARE 10
377377 VOLUNTARY , THAT THE OFFERING OF EARNED WAGE ACCESS S ERVICES, INCLUDING 11
378378 THE AMOUNT OF PROCEE DS A CONSUMER IS ELI GIBLE TO REQUEST AND THE 12
379379 FREQUENCY WITH WHICH PROCEEDS ARE P ROVIDED TO A CONSUME R, IS NOT 13
380380 CONTINGENT ON : 14
381381
382382 1. WHETHER THE CONSUMER PAYS A TIP, GRATUITY, OR 15
383383 OTHER DONATION ; OR 16
384384
385385 2. ON THE SIZE OF ANY TI P, GRATUITY, OR OTHER 17
386386 DONATION; AND 18
387387
388388 (8) PROVIDE PROCEEDS TO A CONSUMER BY ANY MEAN S MUTUALLY 19
389389 AGREED ON BY THE CON SUMER AND THE PROVID ER. 20
390390
391391 (B) (1) IF A CONSUMER HAS INI TIATED AN ADVANCE OF PROCEEDS, A 21
392392 PROVIDER MAY REQUIRE THE EFFECTIVE DATE O F A CANCELLATION OF THE 22
393393 PROVIDER’S EARNED WAGE ACCESS SERVICES TO OCCUR AF TER THE CONSUMER 23
394394 HAS SATISFIED ANY REPAYMENT O BLIGATION THE CONSUM ER HAS TO THE 24
395395 PROVIDER, EITHER THROUGH : 25
396396
397397 (I) PAYROLL DEDUCTION ; 26
398398
399399 (II) A PREAUTHORIZED ELECTR ONIC FUNDS TRANSFER FROM A 27
400400 CONSUMER ’S ACCOUNT OR DEPOSIT ORY INSTITUTION ; OR 28
401401
402402 (III) OTHER MEANS PREVIOUSL Y AGREED TO BY THE CONSUMER 29
403403 AND THE PROVIDER . 30
404404 10 HOUSE BILL 1425
405405
406406
407407 (2) NOTHING IN THIS SUBSE CTION REQUIRES A PRO VIDER TO ALLOW 1
408408 A CONSUMER –INITIATED ADVANCE TO BE CANCELED , REVOKED, SUSPENDED, OR 2
409409 REVERSED AFTER THE C ONSUMER INITIATES TH E ADVANCE. 3
410410
411411 (C) (1) A PROVIDER REQUIRED TO REGISTER UNDER THIS SUBTIT LE 4
412412 THAT SEEKS REPAYMENT OF OUTSTANDING PROCE EDS OR PAYMENT OF FE ES OR 5
413413 OTHER AMOUNTS OWED , INCLUDING VOLUNTARY TIPS, GRATUITIES, OR OTHER 6
414414 DONATIONS IN CONNECT ION WITH THE ACTIVIT IES COVERED BY THIS SUBTITLE, 7
415415 FROM A CONSUMER ’S DEPOSITORY INSTITUTION, INCLUDING BY MEANS O F 8
416416 ELECTRONIC FUNDS TRA NSFER, SHALL: 9
417417
418418 (I) COMPLY WITH APPLICABL E PROVISIONS OF THE FEDERAL 10
419419 ELECTRONIC FUNDS TRANSFER ACT, 15 U.S.C. §§ 1693 THROUGH 1693R, AND 11
420420 REGULATIONS ADOPTED UNDER THAT ACT ; AND 12
421421
422422 (II) EXCEPT AS PRO VIDED IN PARAGRAPH (2) OF THIS 13
423423 SUBSECTION, REIMBURSE THE CONSUM ER FOR THE FULL AMOU NT OF ANY 14
424424 OVERDRAFT OR INSUFFI CIENT FUNDS FEES IMP OSED ON THE CONSUMER BY THE 15
425425 CONSUMER ’S DEPOSITORY INSTITU TION THAT WERE CAUSE D BY THE PROVIDER 16
426426 ATTEMPTING TO SEEK P AYMENT OF ANY OUTSTANDING PR OCEEDS, FEES, OR OTHER 17
427427 PAYMENTS IN CONNECTI ON WITH THE ACTIVITI ES COVERED BY THIS S UBTITLE, 18
428428 INCLUDING VOLUNTARY TIPS, GRATUITIES, OR OTHER DONATIONS : 19
429429
430430 1. ON A DATE OCCURRING B EFORE THE DATE 20
431431 ORIGINALLY DISCLOSED TO THE CONSUMER ; OR 21
432432
433433 2. IN AN INCORRECT AMOUN T THAT DIFFERS FROM THE 22
434434 AMOUNT ORIGINALLY DI SCLOSED TO THE CONSU MER. 23
435435
436436 (2) THE REQUIREMENTS OF P ARAGRAPH (1)(II) OF THIS SUBSECTION 24
437437 DO NOT APPLY TO A PR OVIDER WITH RESPECT TO PAYMENTS OF OUTST ANDING 25
438438 AMOUNTS OR FEES INCU RRED BY A CONSUMER THROUGH F RAUDULENT OR OTHER 26
439439 UNLAWFUL MEANS . 27
440440
441441 14–4606. 28
442442
443443 (A) A PROVIDER REQUIRED TO REGISTER UNDER THIS SUBTITLE MAY NOT : 29
444444
445445 (1) SHARE WITH AN EMPLOYE R A PORTION OF ANY F EES, VOLUNTARY 30
446446 TIPS, GRATUITIES, OR OTHER DONATIONS T HAT WERE RECEIVED FR OM OR 31
447447 CHARGED TO A CONSUME R FOR EARNED WAGE AC CESS SERVICES; 32
448448 HOUSE BILL 1425 11
449449
450450
451451 (2) REQUIRE A CONSUMER ’S CREDIT REPORT OR A CREDIT SCORE 1
452452 PROVIDED OR ISSUED B Y A CONSUMER REPORTI NG AGENCY TO DETERMI NE A 2
453453 CONSUMER ’S ELIGIBILITY FOR EA RNED WAGE ACCESS SER VICES; 3
454454
455455 (3) ACCEPT PAYMENT OF OUTSTANDI NG PROCEEDS , FEES, 4
456456 VOLUNTARY TIPS , GRATUITIES, OR OTHER DONATIONS F ROM A CONSUMER BY 5
457457 MEANS OF A CREDIT CA RD OR CHARGE CARD ; 6
458458
459459 (4) CHARGE A LATE FEE , DEFERRAL FEE , INTEREST, OR ANY OTHER 7
460460 PENALTY OR CHARGE FO R FAILURE TO PAY OUT STANDING PROCEEDS, FEES, 8
461461 VOLUNTARY TIPS , GRATUITIES, OR OTHER DONATIONS ; 9
462462
463463 (5) REPORT TO A CONSUMER REPORTING AGENCY OR DEBT 10
464464 COLLECTOR ANY INFORM ATION ABOUT THE CONS UMER REGARDING THE I NABILITY 11
465465 OF THE PROVIDER TO B E REPAID OUTSTANDING PROCEEDS, FEES, VOLUNTARY TIP S, 12
466466 GRATUITIES, OR OTHER DONATIONS ; 13
467467
468468 (6) IF THE PROVIDER SOLIC ITS, CHARGES, OR RECEIVES TIPS , 14
469469 GRATUITIES, OR OTHER DONATIONS F ROM A CONSUMER , MISLEAD OR DECEIVE 15
470470 CONSUMERS ABOUT THE VOLUNTARY NATURE OF THE TIPS, GRATUITIES, OR 16
471471 DONATIONS OR MAKE RE PRESENTAT IONS THAT TIPS , GRATUITIES, OR OTHER 17
472472 DONATIONS WILL BENEF IT ANY SPECIFIC INDI VIDUALS; OR 18
473473
474474 (7) EXCEPT AS PROVIDED IN SUBSECTION (B) OF THIS SECTION , 19
475475 COMPEL OR ATTEMPT TO COMPEL PAYMENT BY A CONSUMER OF OUTSTAND ING 20
476476 PROCEEDS, FEES, VOLUNTARY TIPS , GRATUITIES, OR OTHER DONATIONS T O THE 21
477477 PROVIDER THROUGH : 22
478478
479479 (I) A SUIT AGAINST THE CON SUMER IN A COURT OF 23
480480 COMPETENT JURISDICTI ON; 24
481481
482482 (II) USE OF A THIRD PARTY TO PURSUE COLLECTION FROM THE 25
483483 CONSUMER ON THE PROV IDER’S BEHALF; OR 26
484484
485485 (III) THE SALE OF OUTSTANDI NG AMOUNTS TO A THIRD –PARTY 27
486486 COLLECTOR OR DEBT BU YER FOR COLLECTION F ROM THE CONSUMER . 28
487487
488488 (B) SUBSECTION (A)(7) OF THIS SECTION DOES NOT PRECLUDE : 29
489489
490490 (1) THE USE BY A PROVIDER OF ANY OF THE METHOD S SPECIFIED IN 30
491491 SUBSECTION (A)(7) OF THIS SECTION TO C OMPEL PAYMENT O F OUTSTANDING 31
492492 AMOUNTS OR FEES INCU RRED BY A CONSUMER T HROUGH FRAUDULENT OR OTHER 32
493493 UNLAWFUL MEANS ; OR 33 12 HOUSE BILL 1425
494494
495495
496496
497497 (2) A PROVIDER FROM PURSUI NG AN EMPLOYER FOR B REACH OF THE 1
498498 EMPLOYER’S CONTRACTUAL OBLIGA TIONS TO THE PROVIDE R. 2
499499
500500 14–4607. 3
501501
502502 (A) NOTWITHSTANDING ANY O THER PROVISION OF LAW , EARNED WAGE 4
503503 ACCESS SERVICES OFFE RED AND PROVIDED BY A REGISTRANT IN COMP LIANCE 5
504504 WITH THIS SUBTITLE M AY NOT BE CONSIDERED TO BE: 6
505505
506506 (1) A VIOLATION OF OR NONC OMPLIANCE WITH ANY L AW OF THIS 7
507507 STATE GOVERNING THE P URCHASE, SALE OR ASSIGNMENT O F, OR AN ORDER FOR 8
508508 EARNED BUT UNPAID IN COME; 9
509509
510510 (2) A LOAN OR OTHER FORM O F CREDIT OR DEBT ; OR 10
511511
512512 (3) A MONEY TRANSMISSION . 11
513513
514514 (B) NOTWITHSTANDING ANY O THER PROVISION OF LA W, A REGISTRANT IN 12
515515 COMPLIANCE WITH THIS SUBTITLE MAY NOT BE CONSIDERED : 13
516516
517517 (1) A CREDITOR, CREDIT GRANTOR , CREDIT SERVICES BUSI NESS, 14
518518 DEBT COLLECTOR , OR LENDER WITH RESPE CT TO EARNED WAGE AC CESS SERVICES 15
519519 OFFERED AND PROVIDED ; OR 16
520520
521521 (2) A MONEY TRANSMITTER UN DER ANY STATE LAW. 17
522522
523523 (C) (1) NOTWITHSTANDING ANY O THER PROVISION OF LA W, FEES, 18
524524 VOLUNTARY TIPS , GRATUITIES, OR OTHER DONATIONS P AID BY A CONSUMER TO A 19
525525 REGISTRANT IN ACCORD ANCE WITH THIS SUBTI TLE MAY NOT BE CONSI DERED 20
526526 INTEREST OR FINANCE CHARGES. 21
527527
528528 (2) IF THERE IS A CONFLIC T BETWEEN THE PROVIS IONS OF THIS 22
529529 SUBTITLE AND ANY OTH ER PROVISION OF LAW, THE PROVISIONS OF TH IS SUBTITLE 23
530530 SHALL PREVAIL . 24
531531
532532 14–4608. 25
533533
534534 (A) ON OR BEFORE JULY 1 EACH YEAR , A PROVIDER REQUIRED TO 26
535535 REGISTER UNDER THIS SUBTITLE SHALL SUBMI T A REPORT TO THE COMMISSIONER 27
536536 THAT INCLUDES ALL OF THE FOLLOWING INFORM ATION RELATED TO EARNED WAGE 28
537537 ACCESS SERVICES THE PROVIDER PROVIDED IN THIS STATE DURING THE 29
538538 IMMEDIATELY PRECEDIN G YEAR: 30 HOUSE BILL 1425 13
539539
540540
541541
542542 (1) GROSS REVENUE ATTRIBU TABLE TO THE EARNED WAGE ACCESS 1
543543 SERVICES; 2
544544
545545 (2) THE TOTAL NUMBER OF T RANSACTIONS IN WHICH THE PROVIDER 3
546546 PROVIDED PROCEEDS TO CONSUMERS ; 4
547547
548548 (3) THE TOTAL NUMBER OF U NIQUE CONSUMERS TO W HOM THE 5
549549 PROVIDER PROVIDED PR OCEEDS; 6
550550
551551 (4) THE TOTAL DOLLAR AMOU NT OF PROCEEDS THE P ROVIDER 7
552552 PROVIDED TO CONSUMER S; AND 8
553553
554554 (5) THE TOTAL DOLLAR AMOU NT OF FEES , VOLUNTARY TIPS , 9
555555 GRATUITIES, OR OTHER DONATIONS THE PROVID ER RECEIVED FROM CON SUMERS. 10
556556
557557 (B) FAILURE BY A PROVIDER TO SUBMIT A TIMELY R EPORT AS REQUIRED 11
558558 UNDER SUBSECTION (A) OF THIS SECTION SHAL L BE GROUNDS FOR DIS CIPLINARY 12
559559 ACTION BY THE COMMISSIONER . 13
560560
561561 (C) (1) EXCEPT AS PROVIDED IN PARAGRAPH (2) OF THIS SUBSECTION , 14
562562 THE INFORMATION CONT AINED IN THE ANNUAL REPORT UNDER SUBSECT ION (A) OF 15
563563 THIS SECTION IS CONF IDENTIAL AND NOT SUB JECT TO PUBLIC COPYI NG OR 16
564564 INSPECTION UNDER TITLE 4, SUBTITLES 1 THROUGH 5 OF THE GENERAL 17
565565 PROVISIONS ARTICLE. 18
566566
567567 (2) THE COMMISSIONER MAY PREPA RE AND MAKE PUBLICLY 19
568568 AVAILABLE AN AGGREGA TED AND ANONYMIZED A NALYSIS OF THE INFOR MATION 20
569569 SUBMITTED BY ALL PRO VIDERS UNDER THIS SE CTION. 21
570570
571571 (D) (1) A PROVIDER REQUIRED TO REGISTER UNDER THIS SUBTITLE 22
572572 SHALL: 23
573573
574574 (I) KEEP BOOKS AND RECORD S THAT, IN THE OPINION OF TH E 24
575575 COMMISSIONER , WILL ENABLE THE COMMISSIONER TO DETER MINE WHETHER THE 25
576576 PROVIDER IS IN COMPL IANCE WITH THIS SUBT ITLE; AND 26
577577
578578 (II) RETAIN RECORDS RELATE D TO PROCEEDS FOR AT LEAST 2 27
579579 YEARS FOLLOWING THE DATE ON WHICH PROCEE DS ARE PROVIDED. 28
580580
581581 (2) A PROVIDER MAY KEEP BO OKS AND RECORDS AT A PLACE OF 29
582582 BUSINESS LOCATED OUT SIDE THIS STATE IF THE PROVIDER IS ABLE TO READILY 30 14 HOUSE BILL 1425
583583
584584
585585 PRODUCE THE BOOKS AN D RECORDS FOR REVIEW BY THE COMMISSIONER ON 1
586586 REASONABLE REQUEST B Y THE COMMISSIONER . 2
587587
588588 14–4609. 3
589589
590590 (A) A CONSUMER WHO HAS REA SON TO BELIEVE THAT THIS SUBTITLE, OR 4
591591 ANY OTHER LAW REGULA TING EARNED WAGE ACC ESS SERVICES , HAS BEEN 5
592592 VIOLATED BY A PERSON SUBJECT TO THIS SUBT ITLE MAY FILE WITH T HE 6
593593 COMMISSIONER A WRITTE N COMPLAINT DESCRIBI NG THE DETAILS OF TH E 7
594594 ALLEGED VIOLATION. 8
595595
596596 (B) THE COMMISSIONER MAY INIT IATE AN INVESTIGATIO N IF THE 9
597597 COMMISSIONER HAS REAS ON TO BELIEVE THAT T HIS SUBTITLE OR ANY OTHER LAW 10
598598 UNDER THE COMMISSIONER ’S JURISDICTION REGUL ATING PROVIDERS HAS BEEN 11
599599 VIOLATED. 12
600600
601601 (C) AFTER RECEIVING A WRI TTEN CO MPLAINT OR INITIATIN G AN 13
602602 INVESTIGATION UNDER THIS SECTION, THE COMMISSIONER MAY INSP ECT THE 14
603603 BOOKS, RECORDS, LETTERS, AND CONTRACTS OF A P ROVIDER RELATING TO THE 15
604604 SPECIFIC WRITTEN COM PLAINT OR THE ALLEGE D VIOLATION. 16
605605
606606 14–4610. 17
607607
608608 (A) THE COMMISSIONER , IN ADDITION TO TAKING ANY OT HER ACTION 18
609609 AUTHORIZED BY LAW , MAY: 19
610610
611611 (1) HOLD A HEARING ON THE COMPLAINT AT A TIME AND PLACE IN 20
612612 THIS STATE REASONABLY CONV ENIENT TO THE PARTIE S INVOLVED; 21
613613
614614 (2) SUBPOENA AND TAKE DEP OSITIONS OF WITNESSE S; 22
615615
616616 (3) CONDUCT INVESTIGATION S THAT THE COMMISSIONER 23
617617 CONSIDERS NECESSARY ; 24
618618
619619 (4) ADMINISTER OATHS ; 25
620620
621621 (5) ISSUE ORDERS FOR COMP LIANCE WITH THIS SUB TITLE; AND 26
622622
623623 (6) ISSUE CEASE AND DESIS T ORDERS IF AFTER A HEARING THE 27
624624 COMMISSIONER FINDS A VIOLATION OF THIS SU BTITLE. 28
625625 HOUSE BILL 1425 15
626626
627627
628628 (B) (1) INSTEAD OF OR IN ADDITION TO ANY OTHER ACTION THE 1
629629 COMMISSIONER MAY TAKE UNDER THIS SECTION O R ANY OTHER PROVISIO N OF LAW, 2
630630 THE COMMISSIONER MAY IMPO SE A CIVIL PENALTY N OT EXCEEDING : 3
631631
632632 (I) $1,000 FOR A FIRST VIOLATIO N; AND 4
633633
634634 (II) $2,500 FOR EACH SUBSEQUENT VIOLATION. 5
635635
636636 (2) IN DETERMINING THE AM OUNT OF A CIVIL PENA LTY IMPOSED 6
637637 UNDER THIS SUBSECTIO N, THE COMMISSIONER SHALL CO NSIDER: 7
638638
639639 (I) THE SERIOUSNESS OF TH E VIOLATION; 8
640640
641641 (II) THE GOOD FAITH OF THE VIOLATOR; 9
642642
643643 (III) THE VIOLATOR’S HISTORY OF PREVIOU S VIOLATIONS; 10
644644
645645 (IV) THE DELETERIOUS EFFEC T OF THE VIOLATION O N THE 11
646646 PUBLIC; 12
647647
648648 (V) THE ASSETS AND FINANC IAL STATUS OF THE VI OLATOR; 13
649649 AND 14
650650
651651 (VI) ANY OTHER FACTORS REL EVANT TO THE DETERMI NATION 15
652652 OF THE AMOUNT OF THE FINANCIAL PENALTY . 16
653653
654654 (3) THE COMMISSIONER SHALL PAY ALL FINES AND PENALTIES 17
655655 COLLECTED BY THE COMMISSIONER UNDER TH IS SUBSECTION INTO T HE GENERAL 18
656656 FUND OF THE STATE. 19
657657
658658 (C) IF A PERSON FAILS TO COMPLY WITH ANY LAWF UL ORDER OF THE 20
659659 COMMISSIONER OR IF AN Y WITNESS FAILS TO A PPEAR AND TESTIFY TO ANY MATTER 21
660660 REGARDING WHICH THE WITNESS MAY BE LAWFU LLY INTERROGATED , ON PETITION 22
661661 OF THE COMMISSIONER SETTING FORTH THE FACTS , THE CIRCUIT COURT OF ANY 23
662662 COUNTY SHALL : 24
663663
664664 (1) COMPEL OBEDIENCE TO T HE REQUIREMENTS OF T HE SUBPOENA 25
665665 OR ORDER; 26
666666
667667 (2) COMPEL THE PRODUCTION OF CONTRACTS , FORMS, FILES, AND 27
668668 OTHER EVIDENCE ; AND 28
669669 16 HOUSE BILL 1425
670670
671671
672672 (3) ORDER COMPLIANCE WITH ANY LAWFUL ORDER ISS UED BY THE 1
673673 COMMISSIONER . 2
674674
675675 (D) IF A PERSON FAILS , REFUSES, OR NEGLECTS TO COMPL Y WITH THE 3
676676 ORDER OF THE COURT , THE COURT MAY PUNISH THAT PERSON FOR CONT EMPT OF 4
677677 COURT. 5
678678
679679 (E) THE ADMINISTRATIVE PROCEDURE ACT, INCLUDING PROVISIONS FOR 6
680680 JUDICIAL REVIEW OF A FINAL DECISION IN A CONTESTED CASE , APPLIES TO 7
681681 PROCEEDINGS BEFORE T HE COMMISSIONER UNDER TH IS SUBTITLE. 8
682682
683683 (F) THE COMMISSIONER SHALL AD OPT REGULATIONS NECE SSARY TO 9
684684 CARRY OUT THIS SUBTI TLE. 10
685685
686686 (G) A PROVIDER SHALL PAY T O THE COMMISSIONER A PER –DAY FEE SET BY 11
687687 THE COMMISSIONER FOR EACH OF THE COMMISSIONER ’S EMPLOYEES ENGAGED IN 12
688688 ANY INVESTIGATION OF THE PROVIDER CONDUCT ED UNDER THIS SECTIO N THAT 13
689689 THE COMMISSIONER CONSI DERS NECESSARY . 14
690690
691691 14–4611. 15
692692
693693 (A) (1) THE REQUIREMENTS UNDE R ANY FEDERAL LAW AN D TITLE 4, 16
694694 SUBTITLES 1 THROUGH 5 OF THE GENERAL PROVISIONS ARTICLE REGARDING THE 17
695695 PRIVACY OR CONFIDENT IALITY OF INFORMATIO N OR MATERIAL PROVID ED TO 18
696696 NMLS, AND ANY PRIVILEGE AR ISING UNDER FEDERAL OR STA TE LAW, INCLUDING 19
697697 THE RULES OF ANY FED ERAL OR STATE COURT WITH RESPECT TO THAT 20
698698 INFORMATION OR MATER IAL, SHALL CONTINUE TO AP PLY TO THAT INFORMAT ION 21
699699 OR MATERIAL AFTER TH E INFORMATION OR MAT ERIAL HAS BEEN DISCL OSED TO 22
700700 NMLS. 23
701701
702702 (2) THE INFORMATION AND MATE RIAL MAY BE SHARED W ITH ALL 24
703703 STATE AND FEDERAL RE GULATORY OFFICIALS H AVING AUTHORITY OVER PERSONS 25
704704 REQUIRED TO BE REGIS TERED UNDER THIS SUB TITLE, INCLUDING THE FINANCIAL 26
705705 CRIMES ENFORCEMENT NETWORK AND THE OFFICE OF FOREIGN ASSETS 27
706706 CONTROL, WITHOUT THE LOSS OF PRIVILEGE OR THE LOS S OF CONFIDENTIALITY 28
707707 PROTECTIONS PROVIDED BY FEDERAL LAW OR TITLE 4, SUBTITLES 1 THROUGH 5 29
708708 OF THE GENERAL PROVISIONS ARTICLE. 30
709709
710710 (B) THE COMMISSIONER MAY : 31
711711
712712 (1) ENTER INTO INFORMATIO N–SHARING AGREEMENTS W ITH ANY 32
713713 FEDERAL OR STATE REGULA TORY AGENCY HAVING A UTHORITY OVER PROVID ERS 33
714714 OR WITH ANY FEDERAL OR STATE LAW ENFORCE MENT AGENCY , INCLUDING THE 34 HOUSE BILL 1425 17
715715
716716
717717 FINANCIAL CRIMES ENFORCEMENT NETWORK AND THE OFFICE OF FOREIGN 1
718718 ASSETS CONTROL, AND ANY SUCCESSOR TO THESE AGENCIES IF TH E AGREEMENTS 2
719719 PROHIBIT THE AGENCIE S FROM DISCLOSING AN Y SHARED INFORMATION WITHOUT 3
720720 PRIOR WRITTEN CONSEN T FROM THE COMMISSIONER REGARDIN G DISCLOSURE OF 4
721721 THE PARTICULAR INFOR MATION; AND 5
722722
723723 (2) EXCHANGE INFORMATION ABOUT A PROVIDER , INCLUDING 6
724724 INFORMATION OBTAINED OR GENERATED DURING AN INVESTIGATION , WITH: 7
725725
726726 (I) ANY FEDERAL OR STATE REGULATORY AGENCY HA VING 8
727727 AUTHORITY OVER PROVI DERS; OR 9
728728
729729 (II) ANY FEDERAL OR STATE LAW ENFORCEMENT AGEN CY. 10
730730
731731 (C) INFORMATION OR MATERI AL THAT IS SUBJECT T O A PRIVILEGE OR 11
732732 CONFIDENTIALI TY UNDER SUBSECTION (A) OF THIS SECTION MAY NOT BE SUBJECT 12
733733 TO: 13
734734
735735 (1) DISCLOSURE UNDER ANY FEDERAL OR STATE LAW GOVERNING 14
736736 THE DISCLOSURE TO TH E PUBLIC OF INFORMAT ION HELD BY AN OFFIC ER OR 15
737737 AGENCY OF THE FEDERA L GOVERNMENT OR A ST ATE THAT HAS RECEIVE D THE 16
738738 INFORMATION OR MATERIA L; OR 17
739739
740740 (2) SUBPOENA, DISCOVERY, OR ADMISSION INTO EV IDENCE, IN ANY 18
741741 PRIVATE CIVIL LITIGA TION OR ADMINISTRATI VE PROCESS, UNLESS, WITH RESPECT 19
742742 TO ANY PRIVILEGE HEL D BY NMLS, THE PERSON TO WHOM T HE INFORMATION OR 20
743743 MATERIAL PERTAINS WA IVES, WHOLLY OR PARTLY , THAT PRIVILEGE . 21
744744
745745 (D) ANY PROVISIONS OF TITLE 4, SUBTITLES 1 THROUGH 5 OF THE 22
746746 GENERAL PROVISIONS ARTICLE RELATING TO T HE DISCLOSURE OF ANY 23
747747 INFORMATION OR MATER IAL DESCRIBED IN SUB SECTION (A) OF THIS SECTION THAT 24
748748 ARE INCONSISTENT WIT H SUBSECTION (A) OF THIS SECTION SHAL L BE SUPERSEDED 25
749749 BY THE REQUIREMENTS OF THIS SECTION. 26
750750
751751 (E) THIS SECTION DOES NOT APPLY TO INFORMATION OR MATERIAL 27
752752 RELATING TO PUBLICLY ADJUDICATED DISCIPLI NARY AND ENFORCEMENT ACTIONS 28
753753 AGAINST A PROVIDER T HAT IS INCLUDED IN NMLS AND DESIGNATED FOR A CCESS 29
754754 BY THE PUBLIC. 30
755755
756756 SECTION 2. AND BE IT FURTHER ENACTED, That a person required to register 31
757757 with the Commissioner of Financial Regulation of the Maryland Department of Labor as a 32
758758 provider of earned wage access services under § 14–4602 of the Commercial Law Article, 33
759759 as enacted by Section 1 of this Act, may continue to provide earned wage access services, 34 18 HOUSE BILL 1425
760760
761761
762762 as defined in § 14–4601 of the Commercial Law Article, as enacted by Section 1 of this Act, 1
763763 in the State without being registered as required until April 1, 2025, if the person: 2
764764
765765 (1) was a provider of earned wage access services on or before January 1, 3
766766 2023; 4
767767
768768 (2) has an application for registration pending with the Commissioner; and 5
769769
770770 (3) otherwise complies with the requirements of Title 14, Subtitle 46 of the 6
771771 Commercial Law Article, as enacted by Section 1 of this Act. 7
772772
773773 SECTION 3. AND BE IT FURTHER ENACTED, That this Act shall take effect 8
774774 October 1, 2024. 9