TX SB938

Establishes the Texas Earned Wage Access Services Act (Chapter 398, Finance Code) to regulate services that allow consumers to access earned but unpaid wages before their scheduled payday

Requires providers to give consumers clear written or electronic disclosures before entering contracts, including all fees, consumer rights, and the option to obtain proceeds at no cost when fees or tips are charged

Prohibits providers from charging late fees, interest, or penalties for non-payment; reporting unpaid amounts to credit agencies or debt collectors; using credit scores for eligibility; or pursuing collection through lawsuits, phone calls, or third-party collectors

Exempts compliant earned wage access providers from being classified as lenders, money transmitters, or debt collectors under Texas law, and from wage deduction and assignment regulations

Authorizes the commissioner to assess administrative penalties for knowing and willful violations and to order restitution to consumers harmed by violations, with the law taking effect September 1, 2025