The Oklahoma Earned Wage Access Services Act establishes a legal framework for earned wage access services in the state. It defines key terms such as "consumer," "earned but unpaid income," and "provider," and outlines the responsibilities and prohibitions for providers of these services. Providers are required to implement policies for consumer inquiries, disclose fees, and offer options for no-cost access to earned wages. They must also comply with privacy laws and ensure transparency regarding any tips or donations solicited from consumers. Additionally, the act prohibits providers from sharing fees with employers, requiring credit reports for eligibility, and imposing late fees or penalties on consumers.

The act clarifies that earned wage access services are not considered loans or credit, and providers are not classified as creditors or money transmitters under existing laws. It also specifies that fees and donations associated with these services do not constitute interest or finance charges. The provisions of this act will take precedence over any conflicting laws, and it is set to take effect on November 1, 2025.