2026 Senate Bill 837

Financial institutions: payday lending; deferred presentment services transactions act; revise internal references related to money transmission services.

A bill to amend 2005 PA 244, entitled “Deferred presentment service transactions act,” by amending section 2 (MCL 487.2122), as amended by 2016 PA 140.

Introduced in the Senate

March 17, 2026

Introduced by Sen. John Damoose (R-37) and four co-sponsors

Co-sponsored by Sens. Rosemary Bayer (D-13), Mary Cavanagh (D-6), Roger Victory (R-31) and Veronica Klinefelt (D-11)

Referred to the Committee on Finance, Insurance, and Consumer Protection