Senate Bill 909 aims to amend section 203.02 (3) of the statutes to correct a cross-reference related to the enforcement authority of the Division of Banking within the Department of Financial Institutions. The bill addresses the licensing and regulation of earned wage access service providers, ensuring that the division has the same powers to conduct hearings, take testimony, and secure evidence for these providers as it does for money transmitters.

The specific changes include the deletion of references to the previous statutory sections 217.17 and 217.18, which have been recodified, and their replacement with the updated citation, section 217.11. This correction is presented as remedial legislation, requested by the Department of Financial Institutions and introduced by the Law Revision Committee, emphasizing the minor yet necessary adjustments to enhance clarity and enforceability in the regulation of earned wage access services.

Statutes affected:
Bill Text: 203.02(3), 203.02