Establishing a new chapter for the licensing and regulation of businesses providing earned wage access services.

HB 1063 creates a new licensing and regulatory framework for businesses that offer "earned wage access services" in Washington State. These services allow workers to receive advance payments of wages they’ve already earned but haven’t been paid by their employer (e.g., via apps or employer partnerships). Starting July 1, 2026, providers must obtain a license from the Department of Financial Institutions, undergo background checks for key personnel, and comply with specific fee and reporting rules. The law directly affects businesses offering these services and protects consumers by requiring transparency and oversight, while excluding traditional banks, credit unions, and payroll services. It does not apply to employers who directly pay employees early or to services that merely verify earnings without funding advances.