CO HB1020

Requires earned-wage access service providers to obtain a license from the Attorney General's office beginning January 1, 2026, with application fees up to $1,000 and annual renewal fees up to $200

Caps fees for delivery or expedited delivery of earned wages at $7 for fiscal year 2025-26, with future increases limited to the Denver-area Consumer Price Index

Prohibits providers from charging late fees, interest, or penalties; requiring credit checks; soliciting tips or gratuities; reporting consumers to credit agencies; or suing consumers to collect unpaid proceeds

Mandates that providers offer at least one no-cost option for consumers to access earned wages, allow cancellation without fees, and reimburse consumers for any overdraft fees caused by provider errors

Authorizes the administrator to impose penalties up to $1,000 per violation for administrative actions and up to $10,000 per violation in civil court for repeated and willful violations