LA HB368

Creates the "Louisiana Earned Wage Access Services Act" regulating companies that provide workers early access to earned but unpaid wages before their scheduled payday

Requires providers to disclose all fees, offer at least one no-cost option for receiving proceeds, allow consumers to cancel services without penalty, and reimburse any overdraft fees caused by provider collection errors

Prohibits providers from suing consumers for repayment, using third-party debt collectors, charging late fees or interest, requiring credit scores for eligibility, or accepting repayment via credit card

Mandates annual reporting to the Office of Financial Institutions by March 1st each year, with first report due March 1, 2027, including data on transactions, consumers served, proceeds delivered, and fees collected

Failure to submit required reports renders all consumer agreements with that provider an "absolute nullity" and subjects providers to enforcement under Louisiana's Unfair Trade Practices and Consumer Protection Law