Bill Abbreviated Title, Amendment Effect — 5331 Insurance Code Violations
Summary
A chart with columns for bill, abbreviated title, amendment and amendment effect, analyst and attorney, referral and sponsor. It lists amendments to 5331 Insurance code violations, 5328 Earned wage access services and 5677 Associate development orgs. For 5331, the effect says the Office of the Insurance Commissioner may order restitution under the Insurance Code after an administrative hearing or with the consent of the person owing the obligation. For 5328, the effect says the amendment changes the title of the bill and increases the minimum surety bond requirement to $50,000. For 5677, the effect says the amendment restores measures related to small businesses receiving services from contracting associate development organizations.
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“Bill Abbreviated Title, Amendment Effect — 5331 Insurance Code Violations.”
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Bill Abbreviated Title Amendment/ Amendment Effect Analyst/ Referral
Sponsor Attorney
5331 Insurance code violations Cortes Effect: John K. Rules
• Specifies that the Office of the
PSSB [A] Insurance Commissioner may order
restitution under the Insurance Code
after an administrative hearing or
with the consent of the person owing
the obligation.
• Limits restitution to demonstrated
economic damages due to another
person, excluding a provider, and
defines the term “provider.”
• Removes language specifying that
restitution is in the form of fees,
money, funds, or other property.
• Defines the term “date the obligation
arose,” which is used in the bill to
calculate when restitution must be
paid.
• Provides that the subsection on
restitution does not interfere with
the dispute resolution process under
the Balance Billing Protection Act.
Page 1 of 4
Bill Abbreviated Title Amendment/ Amendment Effect Analyst/ Referral
Sponsor Attorney
Earned wage access services Lovick Effect: Clint M. Rules
5328 • Changes the title of the bill. "AN ACT
PSSB [B] Relating to the licensing and
regulation of businesses providing
earned wage access services;
amending RCW 31.04.015 and
31.04.025; adding a new chapter to
Title 31 RCW; and prescribing
penalties."
• Makes a distinction between how
consumer-directed wage access
services and employer-integrated
wage access services are regulated.
• Employer-integrated wage access
services are regulated under the
Washington state-employer
integrated wage access services act
created in the bill.
• Consumer-directed wage access
services are defined as loans under
the Consumer Loan Act in RCW
31.04.
• Clarifies that a person that offers
employer-integrated wage access
services in Washington without
obtaining and maintaining a license
from the Department of Financial
Institutions (DFI) must refund any
type of fee to the consumer and that
outstanding proceeds are null, void,
uncollectable and unenforceable.
• The minimum surety bond
requirement is increased to $50,000.
Page 2 of 4
Bill Abbreviated Title Amendment/ Amendment Effect Analyst/ Referral
Sponsor Attorney
• Makes licenses issued by the DFI non-
transferable or assignable.
• A licensee is limited to $5 per
employer-integrated earned wage
advance transaction.
• A licensee may not charge more than
$10 in aggregate to a consumer for
transfer fees, expedited transfer fees,
subscription fees, tips, gratuities,
donations, voluntary contributions,
and the like.
• Provides DFI the authority to suspend
the license of a person who is not in
compliance with a support order as
certified by the Department of Social
and Health Services.
• Makes employer-integrated wage
access services subject to the
Consumer Protection Act in RCW
19.86.
• The definition of the term "loan" is
broadened in the Consumer Loan Act
to mean " a sum of money lent at
interest or for a fee or other charge
and includes both open-end and
closed-end loan transactions. "Loan"
also includes consumer-directed
wage access services, as defined in
section 2 of this act."
• Exempts employer-integrated wage
access services from being subject to
the Consumer Loan Act.
Page 3 of 4
Bill Abbreviated Title Amendment/ Amendment Effect Analyst/ Referral
Sponsor Attorney
Lovick • Directs the Department of Financial
Services (DFI) to implement a
Amendment [B.1] common database with real-time
access through an internet or
application programming interface
connection for use by DFI and any
licensee entering into an employee
integrated wage access services.
Implements data gathering and
reporting requirements of licensees.
Authorizes DFI to implement a fee on
a transactional basis.
5677 Associate development orgs Hasegawa Effect: Clint M. Rules
• Restores measures related to small
PSSB [C] businesses receiving services from
contracting associate development
organizations in counties with a
population greater than 1.5 million
people.
• Adds additional reporting and data
collection requirements for associate
development organizations to report
on the race and ethnicity of persons
receiving direct support.
Page 4 of 4
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