Earned wage access services regulated.

HF 2874 regulates "earned wage access services" in Minnesota, which allow workers to access a portion of their earned but unpaid wages before their regular pay date. The bill directly affects Minnesota residents who use these services and the companies (providers) offering them. Key requirements include: providers must clearly disclose all fees, offer a no-cost option for accessing wages, prohibit tying services to voluntary tips/donations, and allow consumers to cancel services without fees. The law excludes payroll services and employers who directly provide early wage access to their own employees. It aims to ensure transparency and prevent unfair practices in this growing financial service.