A bill to regulate the business of providing earned wage access services; to require the licensing of providers of earned wage access services; to impose fees; to provide for the powers and duties of certain state governmental officers and entities; to prescribe penalties; to require the promulgation of rules; and to prescribe civil sanctions and provide remedies.
House Bills 5558-5569 collectively establish a comprehensive regulatory framework for earned wage access services in Michigan by creating licensing and consumer protection standards while coordinating exemptions and updates across money transmission, lending, debt collection, garnishment, and usury laws to clarify oversight and ensure consistent treatment under related legislation.
Co-sponsored by Reps.
Referred to the Committee on Regulatory Reform
