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Financial Institutions

2019 House Bill 5253

Require regulators produce payday lender report

Introduced by Rep. Sherry Gay-Dagnogo (D-8) on Nov. 13, 2019
Passed 98 to 9 in the House on May 27, 2020

2019 House Bill 5097

Authorize small non-payday loans by payday lenders

Introduced by Rep. Brandt Iden (R-61) on Oct. 10, 2019
Passed 58 to 49 in the House on May 27, 2020

2019 Senate Bill 415 / 2020 Public Act 76

Revise consumer credit card regulation details

Introduced by Sen. Aric Nesbitt (R-26) on Aug. 20, 2019
Passed 36 to 0 in the Senate on Nov. 7, 2019
Passed 107 to 0 in the House on March 12, 2020
Signed by Gov. Gretchen Whitmer on April 2, 2020

2019 House Bill 4411 / 2020 Public Act 13

Revise credit services organizations regulation detail

Introduced by Rep. Jim Lilly (R-89) on March 21, 2019
Passed 108 to 1 in the House on June 20, 2019
Passed 37 to 1 in the Senate on Jan. 14, 2020
Signed by Gov. Gretchen Whitmer on Jan. 27, 2020

2019 House Bill 5147

Revise loan officer licensure detail

Introduced by Rep. Sherry Gay-Dagnogo (D-8) on Oct. 23, 2019
Passed 107 to 0 in the House on Jan. 21, 2020

2019 House Bill 5146

Revise mortgage loan officer licensure detail

Introduced by Rep. Diana Farrington (R-30) on Oct. 23, 2019
Passed 107 to 0 in the House on Jan. 21, 2020

2019 House Bill 5084 / Public Act 141

Revise mortgage loan originator license detail

Introduced by Rep. Diana Farrington (R-30) on Oct. 8, 2019
Passed 109 to 0 in the House on Oct. 29, 2019
Passed 36 to 0 in the Senate on Nov. 13, 2019
Signed by Gov. Gretchen Whitmer on Dec. 4, 2019

2019 House Bill 4580

Mandate currency exchange price posting

Introduced by Rep. Leslie Love (D-10) on May 9, 2019

2019 House Bill 4251

Cap payday loan fees

Introduced by Rep. Bill Sowerby (D-31) on Feb. 26, 2019

2017 Senate Bill 729 / 2018 Public Act 573

Exempt gift cards from money transmission service regulations

Introduced by Sen. Margaret O’Brien (R-20) on Dec. 13, 2017
Passed 36 to 0 in the Senate on May 8, 2018
Passed 35 to 0 in the Senate on May 10, 2018
Passed 107 to 2 in the House on Dec. 21, 2018
Passed 38 to 0 in the Senate on Dec. 21, 2018
Signed by Gov. Rick Snyder on Dec. 28, 2018

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