(a) In this subtitle the following terms have the meanings indicated.
(b) “Bank” has the meaning stated in § 1–201 of this article.
(c) “Consumer–directed earned wage access” means delivery to a consumer of access to unpaid but earned wages:
(1) That is provided to a consumer by a third party who does not have a relationship with the consumer’s employer;
(2) That is based on employment, income, or attendance data obtained directly from the consumer; and
(3) Where the consumer does not pay the provider interest.
(d) “Consumer reporting agency” has the meaning stated in § 14–1201 of this article.
(e) “Earned wage” means salary, wages, compensation, or other income earned:
(1) On an hourly, project–based, piecework, or other basis; or
(2) Through services rendered as an independent contractor.
(f) “Earned wage access” means:
(1) Consumer–directed earned wage access; or
(2) Employer–integrated earned wage access.
(g) “Employer–integrated earned wage access” means delivery of unpaid but earned wages:
(1) That are provided to a consumer directly by a person the employer has contracted to provide the service;
(2) That are determined based on employment, income, or attendance data obtained directly or indirectly from the consumer’s employer, including a payroll service provider; and
(3) Where the consumer does not pay the provider interest.
(h) (1) “Fee” means:
(i) A fee imposed by a provider for delivery or expedited delivery of earned wage access to a consumer; or
(ii) A subscription or membership fee imposed by a provider for a group of services that includes earned wage access.
(2) “Fee” does not include a voluntary tip, gratuity, or other donation.
(i) (1) “Interest” has the meaning stated in § 12–101 of this title.
(2) “Interest” does not include a fee imposed by an earned wage access provider licensed under Title 11, Subtitle 2 of the Financial Institutions Article.
(j) (1) “Loan” has the meaning stated in § 12–101 of this title.
(2) “Loan” includes earned wage access, subject to the provisions of this subtitle.
(k) “Payroll period” means a period of time during which a consumer earns wages that an employer owes to the employee at the end of the period.
(l) “Proceeds” means a payment to a consumer by a provider that is based on unpaid but earned wages.
(m) (1) “Provider” means a person who provides to consumers either consumer–directed earned wage access or employer–integrated earned wage access.
(2) “Provider” does not include:
(i) A service provider, such as a payroll service provider, that may verify the available earnings of a consumer but that is not contractually obligated to fund any proceeds delivered as part of an earned wage access service; or
(ii) An employer that offers a portion of salary, wages, or other compensation directly to its employees or independent contractors before a normally scheduled pay date for a payroll period.
(n) “Tip” has the meaning stated in § 12–101 of this title.
(o) “Wages” has the meaning stated in § 12–101 of this title.