Senate Bill 467: Earned Wage Access Services Act

• Establishes the Earned Wage Access Services Act to regulate providers offering early payment of earned wages prior to scheduled paydays, with the amount deducted from the employee's next paycheck.

• Requires EWA service providers to register with the North Carolina Commissioner of Banks, pay a $1,000 nonrefundable registration fee (renewed every three years), and comply with disclosure and verification requirements.

• Mandates that EWA service providers verify earned wages based on actual pay period data, obtain written consumer authorization for deductions, disclose fees in writing before use, and inform consumers of their right to receive full wages without using the service.

• Establishes that EWA services are not lending activity and associated fees are not interest; prohibits employers from sharing wage information with EWA providers without a service contract and advance consumer consent.

• Authorizes the Commissioner of Banks to examine providers, assess civil penalties up to $1,000 per violation ($10,000 for willful violations), revoke registrations, and order restitution for consumer injuries; violations constitute unfair or deceptive trade practices.