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2017 Senate Bill 238: Cap home lender referral fee

Public Act 171 of 2017

Introduced by Sen. Darwin Booher R-Evart on March 15, 2017
To permit but cap at $500 the payment of a referral fee by a financial institution to a merchant or real estate broker who refers a borrower to a lender.   Official Text and Analysis.
Referred to the Senate Banking and Financial Institutions Committee on March 15, 2017
Reported in the Senate on March 29, 2017
With the recommendation that the bill pass.
Received in the House on May 16, 2017
Referred to the House Financial Services Committee on May 16, 2017
Reported in the House on October 25, 2017
Without amendment and with the recommendation that the bill pass.
Signed by Gov. Rick Snyder on November 20, 2017