Assembly Bill 930 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.

Specifically, the bill deletes the outdated references to sections 217.17 and 217.18 and replaces them with the updated reference to section 217.11. This change is part of a remedial legislation proposal requested by the Department of Financial Institutions and is intended to clarify the division's regulatory authority, thereby enhancing the enforcement of regulations applicable to earned wage access service providers.

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