AZ SB1582

Establishes licensing requirement for earned wage access providers effective January 1, 2026, requiring providers to register with the Arizona Department of Financial Institutions and maintain a $50,000 surety bond.

Requires providers to offer at least one no-cost option for accessing earned wages and clearly disclose all fees, which are capped at $5 for advances up to $75 or $7.50 for advances exceeding $75.

Prohibits providers from charging late fees, interest, or penalties for non-payment; reporting to credit agencies; using collection agencies; requiring credit checks; or conditioning service eligibility on tips or donations.

Mandates providers reimburse consumers within 10 business days for overdraft or non-sufficient fund fees caused by provider payment attempts and prohibit sharing fees with employers.

Requires annual reporting to the department on transaction volumes, gross revenue, consumer counts, fee amounts, and tip collections; exempts earned wage access services from consumer lending and money transmission regulations.