A bill to amend 1988 PA 161, entitled “Consumer financial services act,” by amending section 2 (MCL 487.2052), as amended by 2006 PA 252.
House Bills 5544-5550 collectively modernize Michigan’s financial services regulatory framework by updating money transmission and consumer finance laws, strengthening licensing, net worth, bonding, and enforcement standards, adding fraud-related criminal provisions, and aligning statutes under a coordinated system effective January 1, 2026, contingent on related legislation.
Co-sponsored by Reps.
Referred to the Committee on Finance
Reported without amendment
