HB 5548·MI·house
Financial institutions: other; consumer financial services act; revise internal references related to money transmission services. Amends sec. 5 of 1988 PA 161 (MCL 487.2055). TIE BAR WITH: HB 5544'26
Passed One ChamberFiled Feb 19, 2026
Sponsor: Sarah Lightner (R)
Latest Action
REFERRED TO COMMITTEE ON FINANCE, INSURANCE, AND CONSUMER PROTECTION
Jul 1, 2026
Summary
This bill updates internal legal references regarding money transmission services within Michigan's Consumer Financial Services Act. It affects financial institutions and businesses that provide money transmission services by ensuring state laws reference each other correctly. The update is a technical fix necessary to maintain legal clarity and consistency as the state's financial regulations evolve.
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