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4EC2123D35DC90F887258C3B0079D24C Hearing Summary




PUBLIC
BILL SUMMARY For HB25-1020

HOUSE COMMITTEE ON FINANCE
Date Feb 24, 2025      
Location HCR 0112



HB25-1020 - Witness Testimony Only
03:10:40 PM  
The committee returned to order. Majority Leader Duran and Representative Camacho, co-prime sponsors, presented House Bill 25-1020. The bill creates new requirements for earned-wage access service providers and requires the Department of Law to issue an earned-wage access service provider license. The chair announced that the bill would be laid over for action after the public testimony is concluded.
03:28:44 PM  
The bill sponsors responded to questions from the committee.
03:42:47 PM  
Ms. Molly Jones,
representing Payactiv, testified in support of the bill.  Mr. George
Jepsen, representing himself, testified in support of the bill.  Jim
Hawkins, representing himself, testified in support of the bill.  Ms.
Diane Macheers, representing The Ridge at Pinehurst, testified in support
of the bill.  Mr. Garth McAdam, representing ZayZoon, testified in
support of the bill. The panel of witnesses responded to questions from
the committee.
03:54:43 PM  
The committee continued to discuss the bill with the witnesses.
04:06:14 PM  
Ms. Andrea Kuwik, representing the Bell Policy Center, testified to amend the bill. Ms. Tara Rider, representing Brigit, testified to amend the bill. Mr. Andrew Kushner, representing the Center for Responsible Lending, testified in opposition to the bill. Mr. Greg Glischinski, representing AARP Colorado, testified in opposition to the bill. The witnesses responded to questions from the committee.
04:24:38 PM  
Kjersten Forseth, representing the Colorado AFL-CIO, testified to amend the bill. Sam Sadle, representing EarnIn, testified to amend the bill. Ms. Ashley Urisman, representing the American Fintech Council, testified to amend the bill. Ms. Sarah Mamula, representing the Financial Technology Association, testified to amend the bill. Mr. Ryan Naples, representing DailyPay, LLC., testified to amend the bill. Mr. Edward Van Wesep, representing himself, testified in a neutral position on the bill.
04:38:53 PM  
The chair announced
that the bill would be laid over to February 27.  Written public testimony
about the bill is included as Attachment F.






The effective date for bills enacted without a safety clause is August 6, 2025, if the General Assembly adjourns sine die on May 7, 2025 (unless otherwise specified). Details

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