OK HB2086

Establishes the Oklahoma Earned Wage Access Services Act to regulate companies that provide workers early access to wages they have already earned but not yet received from their employer

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

Prohibits providers from charging late fees, interest, or penalties for nonpayment; reporting unpaid amounts to credit agencies; suing consumers to collect; using third-party debt collectors; or requiring credit checks for eligibility

Exempts banks, credit unions, savings institutions, and other traditional financial institutions from the Act's requirements

Classifies earned wage access services as distinct from loans, credit, debt, or money transmission, with fees and voluntary tips not considered interest or finance charges; effective November 1, 2025