F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
HB 1009 2024
1 A bill to be entitled
2 An act relating to earned wage access services;
3 creating ch. 437, F.S.; creating s. 437.01, F.S.;
4 providing a short title; creating s. 437.02, F.S.;
5 providing definitions related to earned wage access
6 services; creating s. 437.03, F.S.; requiring
7 providers to register with the Financial Services
8 Commission; providing registration requirements;
9 specifying mechanisms by which registrations may be
10 denied, not renewed, or revoked; creating s. 437.04,
11 F.S.; providing requirements with which a provider
12 must comply; prohibiting certain acts by a provider;
13 creating s. 437.05, F.S.; specifying the interplay
14 between earned wage access services provided by a
15 provider and operation of other state laws related to
16 those services; creating s. 437.06, F.S.; providing
17 administrative remedies and penalties; authorizing the
18 Financial Services Commission to adopt rules;
19 requiring the commission, by a date certain, to
20 prescribe form and content of the applications;
21 providing for situations in which a person has
22 previously provided earned wage access services;
23 specifying applicability of certain provisions;
24 providing a contingent effective date.
25
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HB 1009 2024
26 Be It Enacted by the Legislature of the State of Florida:
27
28 Section 1. Chapter 437, Florida Statutes, of sections
29 437.01-437.06, is created to read:
30
31 Chapter 437
32 Earned Wage Access Services
33 437.01 Short title.—This chapter shall be cited as the
34 "Florida Earned Wage Access Services Act."
35 437.02 Definitions.—As used in this chapter, the term:
36 (1) "Applicant" means a provider that has submitted an
37 application for a certificate of registration under s. 437.03.
38 (2) "Business entity" means any corporation, limited
39 liability company, partnership, association, or other commercial
40 entity.
41 (3) "Commission" means the Financial Services Commission.
42 (4) "Consumer" means a person who resides in the state.
43 (5) "Consumer-directed earned wage access services" means
44 the business of delivering to consumers access to earned but
45 unpaid income that is based on the consumer's representations
46 and the provider's reasonable determination of the consumer's
47 earned but unpaid income.
48 (6) "Director" means a member of the applicant's or
49 registrant's board of directors.
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50 (7) "Earned but unpaid income" means salary, wages,
51 compensation, or other income that a consumer or an employer has
52 represented, and that a provider has reasonably determined has
53 been earned or accrued to the benefit of the consumer in
54 exchange for the consumer's provision of services to the
55 employer or on behalf of the employer, including on an hourly,
56 project-based, piecework, or other basis and including
57 circumstances in which the consumer is acting as an independent
58 contractor of the employer, but has not, at the time of the
59 payment of proceeds, been paid to the consumer by the employer.
60 (8) "Earned wage access services" means the business of
61 providing consumer-directed earned wage access services or
62 employer-integrated earned wage access services, or both.
63 (9)(a) "Employer," except as provided in paragraph (b),
64 means any of the following:
65 1. A person who employs a consumer.
66 2. Any other person who is contractually obligated to pay
67 a consumer earned but unpaid income in exchange for the
68 consumer's provision of services to the employer or on behalf of
69 the employer including on an hourly, project-based, piecework,
70 or other basis and including circumstances in which the consumer
71 is acting as an independent contractor with respect to the
72 employer.
73 (b) "Employer" does not include any of the following:
74 1. A customer of an employer.
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75 2. Any other person whose obligation to make a payment of
76 salary, wages, compensation, or other income to a consumer is
77 not based on the provision of services by that consumer for or
78 on behalf of the person.
79 (10) "Employer-integrated earned wage access services"
80 means the business of delivering to consumers access to earned
81 but unpaid income that is based on employment, income, or
82 attendance data obtained directly or indirectly from an employer
83 (11)(a) "Fee," except as provided in paragraph (b),
84 includes any of the following:
85 1. A fee imposed by a provider for delivery or expedited
86 delivery of proceeds to a consumer.
87 2. A subscription or membership fee imposed by a provider
88 for a bona fide group of services that included earned wage
89 access services.
90 (b) "Fee" does not include a voluntary tip, gratuity, or
91 other donation.
92 (12) "Key officer" means chief executive officer, Chief
93 financial officer, and chief compliance officer.
94 (13) "Member," except as used in subsection (6), means a
95 person that has the right to receive upon dissolution, or has
96 contributed, 10 percent or more of the capital of an applicant
97 or registrant that is organized as a limited liability company.
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98 (14) "Outstanding proceeds" means proceeds remitted to a
99 consumer by a provider that have not yet been repaid to the
100 provider.
101 (15) "Partner" means a person that has the right to
102 receive upon dissolution, or has contributed, 10 percent or more
103 of the capital of an applicant or registrant that is organized
104 as a partnership.
105 (16) "Proceeds" means a payment to a consumer by a
106 provider that is based on earned but unpaid income.
107 (17)(a) "Provider," except as provided in paragraph (b),
108 means a business entity that is in the business of providing
109 earned wage access services to consumers.
110 (b) "Provider" does not include any of the following:
111 1. A service provider, such as a payroll service provider,
112 whose role may include verifying the available earnings but that
113 is not contractually obligated to fund proceeds delivered as
114 part of an earned wage access service.
115 2. An employer that offers a portion of salary, wages, or
116 compensation directly to its employees or independent
117 contractors before the normally scheduled pay date.
118 (18) "Registrant" means a business entity that is
119 registered with the commission under s. 437.03.
120 437.03 Registration.—
121 (1) Each provider must register with the commission and
122 must provide:
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123 (a) Its legal business and trade name, mailing address,
124 and business locations.
125 (b) The full names and addresses of its partners, members,
126 or directors and key officers and the Florida agent of the
127 corporation.
128 (c) A statement documenting whether the provider is a
129 domestic or foreign corporation.
130 (d) The state and date of incorporation, the charter
131 number, and, if the provider is a foreign corporation, the date
132 it registered with the Department of State.
133 (e) The date on which the provider registered its
134 fictitious name if the provider is operating under a fictitious
135 or trade name.
136 (2) The commission shall issue a certificate evidencing
137 proof of registration which the provider must prominently
138 display at the provider's primary place of business. If the
139 provider conducts business on a website, the provider must also
140 post its registration number on the website.
141 (3) A registration must be renewed biennially on or before
142 the expiration date. In order to establish staggered expiration
143 dates, the commission may extend the expiration date of a
144 registration for a period not to exceed 12 months.
145 (4) A registration issued under this chapter is not
146 assignable and the provider may not conduct business un der more
147 than one name except as registered. A provider desiring to
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148 change its registered name, location, or designated agent for
149 service of process at a time other than upon renewal of
150 registration must notify the commission of the change.
151 (5) The commission may deny, refuse to renew, or revoke
152 the registration of any provider based on a determination that
153 the provider, or any of the provider's partners, members, or
154 directors and key officers:
155 (a) Has failed to meet the requirements for registration
156 as provided in this chapter;
157 (b) Has been convicted of a crime involving fraud,
158 dishonest dealing, or any other act of moral turpitude;
159 (c) Has not satisfied a civil fine or penalty arising out
160 of any administrative or enforcement action brought by any
161 governmental agency or private person based upon conduct
162 involving fraud, dishonest dealing, or a violation of this
163 chapter;
164 (d) Has any pending criminal, administrative, or
165 enforcement proceedings in any jurisdiction, based on conduct
166 involving fraud, dishonest dealing, or any other act of moral
167 turpitude; or
168 (e) Has had a judgment entered against the provider in any
169 action brought by the commission or the Department of Legal
170 Affairs under this chapter or under ss. 501.201-501.213, the
171 Florida Deceptive and Unfair Trade Practices Act.
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172 (6) The commission shall deny or refuse to renew the
173 registration of a provider or deny a registration or renewal
174 request by any of the provider's partners, members, or directors
175 and key officers if the provider has not satisfied a civil
176 penalty or administrative fine for a violation of s. 437.04.
177 437.04 Provider requirements; limitations.—
178 (1) A provider that is registered under s. 437.03 must:
179 (a) Develop and implement policies and procedures to
180 respond to questions raised by consumers and address complaints
181 from consumers in an expedient manner.
182 (b) Offer to the consumer at least one reasonable option
183 to obtain proceeds at no cost to the consumer and clearly
184 explain how to elect that no-cost option.
185 (c) Before entering into an agreement with a consumer for
186 the provision of earned wage access services:
187 1. Inform the consumer of his or her rights under the
188 agreement.
189 2. Clearly disclose all fees associated with the earned
190 wage access services.
191 (d) Inform the consumer of any material changes to the
192 terms and conditions of the earned wage access services before
193 implementing those changes for that consumer.
194 (e) Allow the consumer to cancel use of the provider's
195 earned wage access services at any time without incurring a
196 cancellation fee or penalty imposed by the provider.
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197 (f) Comply with all applicable local, state, and federal
198 privacy and information security laws.
199 (g) If a provider solicits, charges, or receives a tip,
200 gratuity, or other donation from a consumer:
201 1. Clearly and conspicuously disclose to the consumer
202 immediately before each transaction that a tip, gratuity, or
203 other donation amount may be zero and is voluntary.
204 2. Clearly and conspicuously disclose in its service
205 contract with the consumer that tips, gratuities, or donations
206 are voluntary and that the offering of earned wage access
207 services, including the amount of proceeds a consumer is
208 eligible to request and the frequency with which proceeds are
209 provided to a consumer, is not contingent upon whether the
210 consumer pays any tip, gratuity, or other donation or upon the
211 size of the tip, gratuity, or other donation.
212 (h) Provide proceeds to a consumer by any means mutually
213 agreed upon by the consumer and the provider.
214 (i) If the provider seeks repayment of outstanding
215 proceeds or payment of fees or other amounts owed or paid,
216 including voluntary tips, gratuities, or other donations, in
217 connection with the activities covered by this c