The "Florida Earned Wage Access Services Act" establishes a regulatory framework for earned wage access services in Florida, introducing new definitions for key terms such as "provider," "consumer," and "earned but unpaid income." The bill requires providers to register with the Financial Services Commission, display their registration certificate, and adhere to specific operational standards. It also outlines the circumstances under which a registration certificate may be denied, not renewed, or revoked, particularly in cases of fraud or moral turpitude.

In addition to registration requirements, the bill emphasizes consumer protection by mandating that providers develop policies for addressing consumer complaints, disclose all associated fees, and allow consumers to cancel services without incurring fees. It prohibits providers from sharing fees with employers and from requiring credit reports for service eligibility. The Financial Services Commission is granted authority to adopt rules and impose penalties for non-compliance. The bill also clarifies that fees paid to providers are not considered interest or finance charges, and it sets a deadline for provider registration applications by January 1, 2026, allowing existing providers to operate without registration until July 1, 2026, if they apply by the deadline. The act is set to take effect on January 1, 2026, with some provisions effective immediately upon passage.