Louisiana Becomes Latest State to Pass EWA Legislation
Louisiana has enacted a new Earned Wage Access (EWA) law, effective August 1, 2025. Sponsored by Representative Vinney St. Blanc, HB 368 introduces a comprehensive compliance framework for EWA providers, marking a pivotal shift in how these services are distinguished from traditional lending. Key Provisions of the EWA Law The new law outlines several critical requirements for EWA providers: Clear Disclosures : All fees must be transparently disclosed before services are offered, ensuring consumers are fully informed. No-Cost Option : If fees, tips, or gratuities are solicited, providers must offer a reasonable free option, enhancing consumer choice. Cancellation Rights : Consumers can cancel EWA services at any time without penalty, reinforcing consumer protection. Prohibited Collection Practices : Providers are barred from pursuing repayment through civil suits, unsolicited calls, third-party collectors, or debt sales. Eligibility Criteria : The use of credit reports or sco...