Maryland Delivers Major Wins for Consumers as Gov. Moore Signs Earned Wage Access and Access to Banking Bills

BALTIMORE, MD (April 28, 2026) - In a major victory for consumer protection and financial equity in Maryland, Governor Wes Moore today signed the Earned Wage Access bill (SB94), on the heels of signing an expansion of the Access to Banking Act (SB43/HB259) earlier this month. Together, these landmark bills advance Gov. Moore's affordability, economic mobility, and racial wealth gap agendas by shielding vulnerable workers from exploitative loan fees and incentivizing expanded access to safe banking services in underserved communities.

The Earned Wage Access bill closes regulatory loopholes for app-based payday loans that allow workers to borrow against their wages before the end of the payroll cycle. This legislation follows a 2024 Market Inquiry that revealed Maryland consumers paid over $35 million in fees on 5.5 million transactions using these apps between 2019 and 2024. This new law officially bans the exploitative practice of lender "tipping."

The ban halts "dark-pattern pricing," where manipulative app designs pressure consumers of limited means into paying hidden fees disguised as tips that average more than $280 per user. Further, the bill also reinstates vital protections that hold Earned Wage Access lenders to the same standard as other lenders, explicitly prohibiting false advertising and discrimination based on race, age, and sex.

The expansion of the 2023 Access to Banking Act, signed earlier this month, supports financial inclusion by scaling the capabilities of the Maryland Community Investment Venture Fund. This fund provides grants to help community banks and credit unions partner with financial technology firms to support low- to moderate-income communities.

Crucially, this legislation expands the Fund's mandate so it can strengthen not just small businesses, but also the financial health of individual consumers across low- to moderate-income communities, further enhancing opportunities in the Maryland economy.

The statute also creates a collaborative approach to help unbanked and underbanked Marylanders access the financial system, and it promotes the development of Maryland Opportunity Accounts. The State will use fee credits to encourage banks and credit unions to offer these safe, affordable deposit accounts to help more Marylanders access the financial system and build long-term financial stability for themselves and their families.

"Marylanders deserve to safely manage their earnings and build wealth, and we are thrilled to see these consumer protections become law," said Department of Labor Secretary Portia Wu. Regarding the Earned Wage Access bill, she noted, "New technology should not be a back door for old, harmful practices to re-emerge. Workers are now able to access their earned wages without sacrificing transparency, fairness, or legal protections."

"The Earned Wage Access bill safeguards borrowers from exploitative tipping practices," said Commissioner of Financial Regulation Antonio P. Salazar. "At the same time, the Access to Banking Act expansion boosts opportunities for people in low- to moderate-income communities to access critical financial services and continue to grow Maryland's economy."

"This Access to Banking Act update transforms a successful, nationally-recognized model into sustainable, long-term infrastructure for financial inclusion," said Francesca Ioffreda, Chief Innovation Officer for the State of Maryland. "It allows the State to leverage innovative technology to break down barriers and expand access to opportunities for Maryland families."

Consumer groups CASH Campaign of Maryland and Economic Action Maryland jointly noted: "We applaud the enactment of both the Earned Wage Access bill and the Access to Banking update bill, which together build on Maryland's commitment to expanding safe and affordable access to banking and financial services. By officially banning tips, the Earned Wage Access bill gives consumers the strong protections they need to prevent them from incurring hidden costs when accessing their own wages and addresses the unintended consequences of previous exemptions from Maryland's anti-discrimination laws. Furthermore, the Access to Banking bill expands the Fund to explicitly include consumers and recognize that families are often the most affected by limited access to safe and affordable banking. The push for new Maryland Opportunity Accounts will help families avoid high fees, safely receive income, and build long-term financial stability."

For more information on the Maryland Community Investment Venture Fund, visit the Office of Financial Regulation's website or contact the Governor's Innovation Team at [email protected].

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The Maryland Department of Labor strives to create an equitable and inclusive Maryland where all residents have the opportunities and resources to attain financial stability, reach their career potential, and contribute to their communities; where businesses have access to capital and the skilled workforce they need to succeed; where workplaces are safe and well-regulated; and where the economy is resilient and growing. For updates and information, follow MD Labor on LinkedIn, Instagram, Facebook, and visit our website.

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Dinah Winnick