Description

Prohibits deferred presentment service transactions that charge service fees greater than an annual rate of 36%.

Amending Language

Amends 2005 PA 244 by amending sections 33 and 40 (MCL 487.2153 and 487.2160).

Categories

FINANCIAL INSTITUTIONS, Payday Lending

Introduced On

February 26, 2019

Primary Sponsor

Sowerby, William

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Bill History
2/26/2019Houseread a first time
2/26/2019Houseintroduced by Representative William Sowerby
2/26/2019Housereferred to Committee on Financial Services
2/26/2019Housebill electronically reproduced 02/26/2019
2/27/2019Housebill electronically reproduced 02/26/2019
Documents
House Introduced Bill
Introduced bills appear as they were introduced and reflect no subsequent amendments or changes.
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