The "Idaho Earned Wage Access Services Act" proposes the addition of a new Chapter 38 to Title 26 of the Idaho Code, establishing a regulatory framework for earned wage access service providers. This legislation requires these providers to obtain a license to operate in Idaho and includes definitions, a licensing process, applicant qualifications, and reporting requirements. The Director of the Department of Finance is granted powers to investigate and examine licensees to ensure compliance. The bill also specifies exemptions for certain entities, such as banks and credit unions, and clarifies that earned wage access services are not classified as loans or money transmission.

Furthermore, the bill mandates transparency and consumer protection measures, including the development of policies for addressing consumer complaints, disclosure of all service fees, and the provision of at least one no-cost option for consumers. It prohibits practices such as requiring credit reports for eligibility and charging late fees. The legislation emphasizes data confidentiality, outlines enforcement procedures, and allows for the continuation of operations for individuals acting as providers prior to the bill's enactment, provided they apply for a license within six months. The bill is designed to create a structured environment for earned wage access services while ensuring consumer rights and regulatory oversight, taking effect immediately upon passage and approval.