AN ACT relating to earned income access transactions.

Establish Subtitle 13 of KRS Chapter 286, the Kentucky Financial Services Code, and create new sections thereof to regulate earned income access transactions; define terms; establish licensing requirements for certain earned income access providers; establish requirements for the change of control of a licensee; establish records requirements for licensees; require annual and other reports by licensees; permit the commissioner of the Department of Financial Institutions to conduct examinations and investigations of licensees and other persons; establish trade practice requirements for licensees; require the commissioner to establish a database for use by the department and licensees and establish requirements relating to the use of the database; require the nonrenewal, revocation, or suspension of licenses if certain conditions are met; authorize the commissioner to promulgate administrative regulations and to levy civil penalties for certain conduct; provide that certain transactions are void; amend KRS 286.4-410 and 371.150 to conform; provide that Sections 1 to 11 of this Act may be cited as the Kentucky Earned Wage Access Act; provide that the Act applies to earned income access transactions offered or provided on or after January 1, 2026.