HB 5545·MI·house
Financial institutions: other; consumer financial services act; revise internal references related to money transmission services. Amends sec. 2 of 1988 PA 161 (MCL 487.2052). TIE BAR WITH: HB 5544'26
Passed One ChamberFiled Feb 19, 2026
Sponsor: David Martin (R)
Latest Action
REFERRED TO COMMITTEE ON FINANCE, INSURANCE, AND CONSUMER PROTECTION
Jul 1, 2026
Summary
This bill updates internal references within Michigan's Consumer Financial Services Act regarding money transmission services. It ensures the state's laws correctly point to updated statutes, which affects financial institutions and money transmitters operating in Michigan. The update is necessary to maintain legal clarity and consistency alongside a companion bill.
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