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Bill > HB5800
MI HB5800
MI HB5800Financial institutions: payday lending; deferred presentment services transactions act; revise internal references related to money transmission services. Amends sec. 2 of 2005 PA 244 (MCL 487.2122). TIE BAR WITH: HB 5798'24
summary
Introduced
06/06/2024
06/06/2024
In Committee
12/18/2024
12/18/2024
Crossed Over
12/12/2024
12/12/2024
Passed
Dead
12/31/2024
12/31/2024
Introduced Session
102nd Legislature
Bill Summary
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.
AI Summary
This bill amends the Deferred Presentment Service Transactions Act by revising internal references related to money transmission services. The key changes include updating definitions, such as "deferred presentment service transaction" and "financial licensing act," as well as modifying the list of financial services activities that are excluded from the definition of "deferred presentment service transaction." The bill also includes provisions regarding the effective date and tie-bar with another related bill.
Committee Categories
Business and Industry, Government Affairs
Sponsors (5)
Cynthia Neeley (D)*,
John Fitzgerald (D),
Carol Glanville (D),
Penelope Tsernoglou (D),
Mai Xiong (D),
Last Action
Referred To Committee On Government Operations (on 12/18/2024)
Bill Topics
Banking, Finance, and Domestic Commerce
- ‐ Banking System and Financial Institution Regulation and Reform
- ‐ Consumer Finance and Credit, including Credit Cards
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://legislature.mi.gov/Bills/Bill?ObjectName=2024-HB-5800 | 06/06/2024 |
| BillText | https://legislature.mi.gov/documents/2023-2024/billengrossed/House/htm/2024-HEBH-5800.htm | 12/12/2024 |
| BillText | https://legislature.mi.gov/documents/2023-2024/billintroduced/House/htm/2024-HIB-5800.htm | 06/06/2024 |
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