Michigan HB 4251: 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).

Status: bill electronically reproduced 02/26/2019 (as of 2019-02-26)

State: Michigan · Session: 2019-2020 · Bill: HB 4251

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

Sponsors: Abdullah Hammoud, Brad Paquette, Brian Elder, Cara Clemente, Darrin Camilleri, David LaGrand, Douglas Wozniak, Frank Liberati, Jeff Yaroch, Jewell Jones, Jim Ellison, Jim Haadsma, John Chirkun, Jon Hoadley, Julie Calley, Kara Hope, Karen Whitsett, Kevin Hertel, Kristy Pagan, Kyra Harris Bolden, Laurie Pohutsky, Leslie Love, Lori Stone, Matt Koleszar, Nate Shannon

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