ND HB1393

Requires earned wage access providers to obtain a license from the North Dakota Department of Financial Institutions, with applicants maintaining at least $25,000 net worth and a $50,000 surety bond

Exempts banks, credit unions, and savings and loan associations from the licensing requirements; clarifies that earned wage access services are not considered loans, credit, debt, or money transmission under state law

Mandates consumer protections including clear disclosure of all charges, at least one no-cost option to receive proceeds, prohibition on using credit reports for eligibility, and reimbursement for overdraft fees caused by provider errors

Prohibits providers from charging late fees or interest, reporting consumers to credit agencies or debt collectors, compelling repayment through lawsuits or third-party collectors, or sharing charges with employers

Provides without a license is a class C felony; other violations are infractions with civil penalties up to $100,000 per willful violation; existing providers operating before January 1, 2025, may continue until their license application is decided