MI HB6215 | 2017-2018 | 99th Legislature
Status
Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on June 12 2018 - 25% progression, died in chamber
Action: 2018-08-15 - Bill Electronically Reproduced 06/12/2018
Text: Latest bill text (Introduced) [HTML]
Status: Introduced on June 12 2018 - 25% progression, died in chamber
Action: 2018-08-15 - Bill Electronically Reproduced 06/12/2018
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 secs. 33 & 40 of 2005 PA 244 (MCL 487.2153 & 487.2160).
Title
Financial institutions; payday lending; deferred presentment service transactions that charge service fees greater than an annual rate of 36%; prohibit. Amends secs. 33 & 40 of 2005 PA 244 (MCL 487.2153 & 487.2160).
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2018-08-15 | House | Bill Electronically Reproduced 06/12/2018 |
| 2018-06-12 | House | Referred To Committee On Financial Services |
| 2018-06-12 | House | Read A First Time |
| 2018-06-12 | House | Introduced By Representative William Sowerby |
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
Michigan State Sources
| Type | Source |
|---|---|
| Summary | https://legislature.mi.gov/doc.aspx?2018-HB-6215 |
| Text | https://legislature.mi.gov/documents/2017-2018/billintroduced/House/htm/2018-HIB-6215.htm |
