MI HB5290 | 2023-2024 | 102nd Legislature
Status
Spectrum: Moderate Partisan Bill (Democrat 19-4)
Status: Introduced on November 1 2023 - 25% progression
Action: 2023-11-02 - Bill Electronically Reproduced 11/01/2023
Pending: House Insurance And Financial Services Committee
Text: Latest bill text (Introduced) [HTML]
Status: Introduced on November 1 2023 - 25% progression
Action: 2023-11-02 - Bill Electronically Reproduced 11/01/2023
Pending: House Insurance And Financial Services Committee
Text: Latest bill text (Introduced) [HTML]
Summary
Financial institutions: payday lending; deferred presentment service transactions that charge service fees greater than an annual rate of 36%; prohibit. Amends sec. 33 of 2005 PA 244 (MCL 487.2153).
Title
Financial institutions: payday lending; deferred presentment service transactions that charge service fees greater than an annual rate of 36%; prohibit. Amends sec. 33 of 2005 PA 244 (MCL 487.2153).
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2023-11-02 | House | Bill Electronically Reproduced 11/01/2023 |
| 2023-11-01 | House | Referred To Committee On Insurance And Financial Services |
| 2023-11-01 | House | Read A First Time |
| 2023-11-01 | House | Introduced By Representative Abraham Aiyash |
Subjects
Consumer credit: interest rates
Financial institutions: payday lending
State agencies (existing): insurance and financial services
Financial institutions: payday lending
State agencies (existing): insurance and financial services
