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2013 Senate Bill 664: Revise “debt management services” regulations

Public Act 362 of 2014

Introduced by Sen. Mike Kowall (R) on November 6, 2013 To revise and update various definitions and prescribed procedures in a law that imposes licensure and regulations on “debt management services.” Among other things the bill would increase the maximum fee the state allows these businesses to charge customers.   Official Text and Analysis.
Referred to the Senate Banking and Financial Institutions Committee on November 6, 2013
Reported in the Senate on March 18, 2014 With the recommendation that the substitute (S-2) be adopted and that the bill then pass.
Substitute offered in the Senate on April 22, 2014
The substitute passed by voice vote in the Senate on April 22, 2014
Passed 25 to 13 in the Senate on April 23, 2014 (same description)
To revise and update various definitions and prescribed procedures in a law that imposes licensure and regulations on “debt management services.” Among other things the bill would increase the maximum fee the state allows these businesses to charge customers.
Received in the House on April 23, 2014
Referred to the House Financial Services Committee on April 23, 2014
Reported in the House on May 21, 2014 With the recommendation that the substitute (H-1) be adopted and that the bill then pass.
Passed 103 to 6 in the House on December 2, 2014 (same description)
To revise and update various definitions and prescribed procedures in a law that imposes licensure and regulations on “debt management services.” Among other things the bill would increase the maximum fee the state allows these businesses to charge customers.
Received in the Senate on December 3, 2014
Passed 27 to 9 in the Senate on December 4, 2014 To concur with the House-passed version of the bill.
Signed by Gov. Rick Snyder on December 16, 2014

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