The "Idaho Earned Wage Access Services Act" introduces a new chapter to Title 26 of the Idaho Code, establishing a regulatory framework for earned wage access service providers. The legislation requires these providers to obtain a license to operate in Idaho and outlines the licensing process, qualifications, and requirements for applicants. It also includes exemptions for certain entities like banks and credit unions, clarifies that earned wage access services are not classified as loans or money transmission, and mandates strict confidentiality standards for consumer data. The act aims to ensure consumer protection and regulatory oversight in the earned wage access sector.

Furthermore, the bill grants the Director of the Department of Finance the authority to conduct investigations, examinations, and hearings related to licensees, including the power to issue subpoenas and require testimony. Licensees are responsible for the costs of on-site examinations, which can be conducted electronically if appropriate. The legislation sets forth specific requirements for providers, such as informing consumers of their rights and disclosing fees, while prohibiting practices like sharing fees with employers and imposing late fees. The director can impose civil penalties for violations and issue cease and desist orders. An emergency clause allows the act to take effect immediately upon passage and approval.