A bill to regulate the business of money transmission; to require the licensing of persons engaged in the business of money transmission; to prescribe the powers and duties of certain state and local officers and entities; to prescribe penalties and civil sanctions; and to repeal acts and parts of acts.
Modernizes Michigan's regulation of money transmission businesses by establishing updated licensing, compliance, and consumer protection standards.
Co-sponsored by Sens.
Referred to the Committee on Finance, Insurance, and Consumer Protection
