H1119
An Act relative to financial technology services
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill aims to regulate earned wage access services – services that allow employees to receive their paychecks early – in Massachusetts. It proposes that the Division of Banks and Financial Services license and oversee these providers to ensure consumer protection and financial stability. The legislation seeks to establish clear rules and standards for how these services operate, addressing potential risks associated with early access to wages. Currently, there is no specific state regulation governing this industry.
Sponsors
Official sponsors from legislative records.
Primary sponsor
Mark J. Cusack
Cosponsor
Mark J. Cusack
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