HB 246

Did not advance

Commercial Law - Credit Regulation - Earned Wage Access and Credit Modernization

Sponsor: Chair, Economic Matters CommitteeCommittee: Economic MattersSubject: Commercial Law - Credit RegulationStatus: Hearing 3/26 at 1:00 p.m. (as of Nov 13, 2024)

What this bill does

Official synopsis

Subjecting certain earned wage access products to the Maryland Consumer Loan Law and other provisions that regulate entities that provide consumer credit, revolving credit, and closed end credit; restricting the acceptance of tips by certain lenders under certain circumstances; providing for the licensing or registration of certain entities offering earned wage access products with certain exemptions; limiting the costs and fees associated with obtaining an earned wage access product; etc.

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Analysis reads the bill text, the fiscal note, and the witness list. It is generated by Claude and reviewed by nobody, so check the source documents before you rely on it.

Testimony (50)

MGA witness list

FAV 18FavorableFWA 15Favorable with amendmentsUNF 14UnfavorableINFO 3Information only

Position	Witness	Organization	Testimony
FAV	jones, ricarra	1199seiu	Oral + Written (PDF)
FAV	Bresnahan, Tammy	AARP Maryland	Oral + Written (PDF)
FAV	Leonard, Victoria	Baltimore DC Building Trades	Written (PDF)
FAV	Moore, Tonaeyalobbyist	CASH CAMPAIGN OF MARYLAND	Written (PDF)
FAV	Burks, Monica	Center for Responsible Lending	Oral + Written (PDF)
FAV	Schneiderman, Franzlobbyist	Consumer Auto	Oral + Written (PDF)
FAV	White, Marcelinelobbyist	Economic Action Maryland	Oral + Written (PDF)
FAV	Mejia, Roxana	IUPAT DC51	Written (PDF)
FAV	Nunez, Andrea	Legislative Director, Maryland Department of Aging	Oral
FAV	Edwards, Donna	Maryland State & DC AFL-CIO	Written (PDF)
FAV	Edwards, Donna	Maryland State & DC AFL-CIO	Oral + Written (PDF)
FAV	Little, Rev. Kobi	NAACP Maryland	Oral + Written (PDF)
FAV	Saunders, Lauren	National Consumer Law Center	Oral + Written (PDF)
FAV	Sonn, Paul	National Employment Law Project	Written (PDF)
FAV	Salazar, Antonio	Office of the Commissioner of Financial Regulation	Oral
FAV	Mock, Kaylalobbyist	UFCW 400	Written (PDF)
FAV	Chair, Economic Matters Committee, Chair, Economic Matters Committee	Individual	Oral
FAV	Chair, Economic Matters Committee, Chair, Economic Matters Committee	Individual	Oral
UNF	Goldfeder, Phil	American Fintech Council	Oral + Written (PDF)
UNF	Xiong-Calmes, Alain	Chamber of Progress	Oral + Written (PDF)
UNF	Schneiderman, Franzlobbyist	Consumer Auto	Written (PDF)
UNF	Naples, Ryanlobbyist	DailyPay, Inc.	Oral + Written (PDF)
UNF	LaRocco, Ben	EarnIn	Oral
UNF	LaRocco, Ben	EarnIn	Oral
UNF	Pierce, Matt	Immediate	Oral + Written (PDF)
UNF	Manno, Rogerlobbyist	Manno & Associates LLC	Oral
UNF	Meeks, Wilson	Maryland Attorney General's Office, Consumer Protection Division	Written (PDF)
UNF	Jacobsohn, Alice	PayrollOrg	Oral
UNF	McAdam, Garth	ZayZoon	Oral
UNF	Boston, Frank	Individual	Oral
UNF	Boston, Frank	Individual	Oral
UNF	Jones, Molly	Individual	Oral
FWA	Bresnahan, Tammy	AARP Maryland	Written (PDF)
FWA	isberg, pete	ADP	Oral
FWA	Moore, Tonaeyalobbyist	CASH CAMPAIGN OF MARYLAND	Oral + Written (PDF)
FWA	Flores, Claudialobbyist	DailyPay, Inc.	Oral
FWA	White, Marcelinelobbyist	Economic Action Maryland	Written (PDF)
FWA	Yeager, Bob	MD Office of Financial Regulation (OFR)	Oral
FWA	Manno, Rogerlobbyist	Manno & Associates LLC	Oral
FWA	Meeks, Wilson	Maryland Attorney General's Office, Consumer Protection Division	Oral + Written (PDF)
FWA	Wu, Secretary Portia	Maryland Department of Labor	Oral + Written (PDF)
FWA	Salazar, Antonio	Office of the Commissioner of Financial Regulation	Oral
FWA	Hennen, Amy	Office of the Commissioner of Financial Regulation, Department of Labor	Written (PDF)
FWA	Hennen, Amy	Office of the Commissioner of Financial Regulation, Department of Labor	Oral + Written (PDF)
FWA	Rodwin, Davidlobbyist	Public Justice Center	Written (PDF)
FWA	Williams, Rodney	SoLo Funds	Oral + Written (PDF)
FWA	Jones, Molly	Individual	Oral + Written (PDF)
INFO	Russell, Samantha	Financial Technology Association	Written (PDF)
INFO	Tate, Brian	Innovative Payments Association	Oral
INFO	Saunders, Lauren	National Consumer Law Center	Written (PDF)

Organizations on record

1199seiuFAV 1

AARP MarylandFAV 1FWA 1

ADPFWA 1

American Fintech CouncilUNF 1

Baltimore DC Building TradesFAV 1

CASH CAMPAIGN OF MARYLANDFAV 1FWA 1

Center for Responsible LendingFAV 1

Chamber of ProgressUNF 1

Consumer AutoFAV 1UNF 1

DailyPay, Inc.FWA 1UNF 1

EarnInUNF 2

Economic Action MarylandFAV 1FWA 1

Financial Technology AssociationINFO 1

ImmediateUNF 1

Innovative Payments AssociationINFO 1

IUPAT DC51FAV 1

Legislative Director, Maryland Department of AgingFAV 1

Manno & Associates LLCFWA 1UNF 1

Maryland Attorney General's Office, Consumer Protection DivisionFWA 1UNF 1

Maryland Department of LaborFWA 1

Maryland State & DC AFL-CIOFAV 2

MD Office of Financial Regulation (OFR)FWA 1

NAACP MarylandFAV 1

National Consumer Law CenterFAV 1INFO 1

National Employment Law ProjectFAV 1

Office of the Commissioner of Financial RegulationFAV 1FWA 1

Office of the Commissioner of Financial Regulation, Department of LaborFWA 2

PayrollOrgUNF 1

Public Justice CenterFWA 1

SoLo FundsFWA 1

UFCW 400FAV 1

ZayZoonUNF 1

Registered lobbyists who testified

FAVMoore, TonaeyaCASH CAMPAIGN OF MARYLANDRegistered for: CASH Campaign of Maryland

FAVSchneiderman, FranzConsumer AutoRegistered for: Auto Consumer Alliance; Consumer Auto

FAVWhite, MarcelineEconomic Action MarylandRegistered for: Maryland Consumer Rights Coalition DBA Economic Action Maryland; Maryland Consumer Rights Coalition

FAVMock, KaylaUFCW 400Registered for: United Food & Commercial Workers Union Local 400

UNFSchneiderman, FranzConsumer AutoRegistered for: Auto Consumer Alliance; Consumer Auto

UNFNaples, RyanDailyPay, Inc.Registered for: DailyPay

UNFManno, RogerManno & Associates LLCRegistered for: CAUSE; Constellation; Fraternal Order of Police Lodge 35; Mechanical Contractors Association of Metro Washington; Mid-Atlantic Pipe Trades Association; Payactiv…

FWAMoore, TonaeyaCASH CAMPAIGN OF MARYLANDRegistered for: CASH Campaign of Maryland

FWAFlores, ClaudiaDailyPay, Inc.Registered for: DailyPay

FWAWhite, MarcelineEconomic Action MarylandRegistered for: Maryland Consumer Rights Coalition DBA Economic Action Maryland; Maryland Consumer Rights Coalition

FWAManno, RogerManno & Associates LLCRegistered for: CAUSE; Constellation; Fraternal Order of Police Lodge 35; Mechanical Contractors Association of Metro Washington; Mid-Atlantic Pipe Trades Association; Payactiv…

FWARodwin, DavidPublic Justice CenterRegistered for: Care in Action