A bill to amend 2006 PA 250, entitled “Money transmission services act,” by amending section 4 (MCL 487.1004), as amended by 2018 PA 573.
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
