FL H1009

Creates Chapter 437, F.S., the "Florida Earned Wage Access Services Act," requiring all earned wage access providers to register with the Financial Services Commission, with registrations renewed biennially and subject to denial or revocation for fraud, dishonest dealing, or unpaid civil penalties.

Providers must offer consumers at least one no-cost option to obtain proceeds, clearly disclose all fees before entering agreements, and allow consumers to cancel services at any time without penalty.

Prohibits providers from charging late fees, interest, or penalties for nonpayment; reporting consumers to credit agencies or debt collectors for unpaid amounts; using lawsuits or third-party collectors to compel repayment; or requiring credit reports to determine eligibility.

Earned wage access services are explicitly excluded from being classified as loans, credit, debt, or money transmission under Florida law, and associated fees and voluntary tips are not considered interest or finance charges.

The Financial Services Commission must prescribe the registration application form by January 1, 2025; providers operating as of January 1, 2023, may continue without registration until July 1, 2025, if they have submitted an application and otherwise comply with the act.