Legislation

Title: Commercial Law - Credit Regulation - Earned Wage Access and Credit Modernization
Sponsored by: Chair, Economic Matters Committee (By Request - Departmental - Labor)
Status: In the Senate - Hearing 3/26 at 1:00 p.m.
Analysis: Fiscal and Policy Note (Revised)

Synopsis

Subjecting certain earned wage access products to the Maryland Consumer Loan Law and other provisions that regulate entities that provide consumer credit, revolving credit, and closed end credit; restricting the acceptance of tips by certain lenders under certain circumstances; providing for the licensing or registration of certain entities offering earned wage access products with certain exemptions; limiting the costs and fees associated with obtaining an earned wage access product; etc.

Committees

Original:: Economic Matters Click to view Recorded Media

Opposite:: Finance Click to view Recorded Media

Committee Testimony

Witness List

Details

Bill File Type: Pre-Filed

Effective Date(s): October 1, 2024

By Request of the Governor

History

Legislation History
Chamber House Calendar Date 9/15/2023 Legislative Date 9/15/2023 Action Pre-filed Proceedings
Chamber House Calendar Date 1/10/2024 Legislative Date 1/10/2024 Action First Reading Economic Matters Proceedings
Chamber Calendar Date Legislative Date Action Text - First - Commercial Law - Credit Regulation - Earned Wage Access and Credit Modernization Proceedings
Chamber House Calendar Date 1/11/2024 Legislative Date 1/11/2024 Action Hearing 1/23 at 1:00 p.m. Proceedings
Chamber Calendar Date Legislative Date Action Vote - House - Committee - Economic Matters Proceedings Click to view Recorded Media
Chamber House Calendar Date 3/16/2024 Legislative Date 3/16/2024 Action Favorable with Amendments Report by Economic Matters Proceedings
Chamber House Calendar Date 3/16/2024 Legislative Date 3/08/2024 Action Favorable with Amendments {913821/1 Adopted Proceedings 47 Click to view Recorded Media
Chamber House Calendar Date 3/16/2024 Legislative Date 3/08/2024 Action Second Reading Passed with Amendments Proceedings 47 Click to view Recorded Media
Chamber Calendar Date Legislative Date Action Text - Third - Commercial Law - Credit Regulation - Earned Wage Access and Credit Modernization Proceedings
Chamber House Calendar Date 3/18/2024 Legislative Date 3/10/2024 Action Third Reading Passed (102-36) Proceedings 49 Click to view Recorded Media
Chamber Senate Calendar Date 3/18/2024 Legislative Date 3/06/2024 Action Referred Finance Proceedings 51 Click to view Recorded Media
Chamber Senate Calendar Date 3/19/2024 Legislative Date 3/19/2024 Action Hearing 3/26 at 1:00 p.m. Proceedings

Chamber	Calendar Date	Legislative Date	Action	Proceedings
House	9/15/2023	9/15/2023	Pre-filed
House	1/10/2024	1/10/2024	First Reading Economic Matters
			Text - First - Commercial Law - Credit Regulation - Earned Wage Access and Credit Modernization
House	1/11/2024	1/11/2024	Hearing 1/23 at 1:00 p.m.
			Vote - House - Committee - Economic Matters	Click to view Recorded Media
House	3/16/2024	3/16/2024	Favorable with Amendments Report by Economic Matters
House	3/16/2024	3/08/2024	Favorable with Amendments {913821/1 Adopted	47 Click to view Recorded Media
House	3/16/2024	3/08/2024	Second Reading Passed with Amendments	47 Click to view Recorded Media
			Text - Third - Commercial Law - Credit Regulation - Earned Wage Access and Credit Modernization
House	3/18/2024	3/10/2024	Third Reading Passed (102-36)	49 Click to view Recorded Media
Senate	3/18/2024	3/06/2024	Referred Finance	51 Click to view Recorded Media
Senate	3/19/2024	3/19/2024	Hearing 3/26 at 1:00 p.m.

File Code

Subjects

Statutes