NJ S3110

Establishes a licensing requirement for earned wage access service providers in New Jersey, with licenses issued by the Commissioner of Banking and Insurance for periods of at least two years

Requires providers to maintain a minimum net worth of $100,000 and liquid assets of $100,000, pay application fees up to $700, and submit to criminal background checks for officers, directors, partners, and controlling owners

Mandates consumer protections including offering at least one no-cost option for receiving proceeds, capping expedited delivery fees at $5, prohibiting late fees or interest charges, and requiring clear disclosure that tips are voluntary

Prohibits providers from reporting consumers to credit agencies or debt collectors, suing consumers for unpaid proceeds, or using credit scores to determine eligibility for services

Authorizes the Commissioner to impose civil penalties up to $25,000 per violation, conduct examinations and investigations, and bar individuals from the industry for up to 10 years for knowing violations