Michigan HB 5290: 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).

Status: bill electronically reproduced 11/01/2023 (as of 2023-11-02)

State: Michigan · Session: 2023-2024 · Bill: HB 5290

Subjects: Consumer credit: interest rates, Financial institutions: payday lending, State agencies (existing): insurance and financial services

Sponsors: Abraham Aiyash, Alabas Farhat, Amos O'Neal, Carol Glanville, Cynthia Neeley, Dale Zorn, Denise Mentzer, Donavan McKinney, Emily Dievendorf, Felicia Brabec, Gina Johnsen, Jason Morgan, Jimmie Wilson Jr., John Roth, Kara Hope, Karen Whitsett, Kimberly Edwards, Lori Stone, Natalie Price, Pat Outman, Sharon MacDonell, Stephanie A. Young, Veronica Paiz

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