KLS Keeping Law Simple Legislation in plain English

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HB4581 • 2026

Consumer credit: interest rates; credit card interest rates; provide cap. Amends sec. 4 of 1995 PA 162 (MCL 445.1854).

Consumer credit: interest rates; credit card interest rates; provide cap. Amends sec. 4 of 1995 PA 162 (MCL 445.1854).

Active

The official status still shows this bill as active or still awaiting another formal step.

Sponsor
Alabas Farhat (District 3), Reggie Miller (District 31), Carrie Rheingans (District 47), Josh Schriver (District 66), Erin Byrnes (District 15)
Last action
2025-06-10
Official status
bill electronically reproduced 06/05/2025
Effective date
Not listed

Plain English Breakdown

Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.

Consumer credit: interest rates; credit card interest rates; provide cap. Amends sec. 4 of 1995 PA 162 (MCL 445.1854).

Consumer credit: interest rates; credit card interest rates; provide cap.

What This Bill Does

  • Consumer credit: interest rates; credit card interest rates; provide cap.
  • Amends sec.
  • 4 of 1995 PA 162 (MCL 445.1854).

Limits and Unknowns

  • This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.

Bill History

  1. 2025-06-10 HJ 55 Pg. 677

    bill electronically reproduced 06/05/2025

  2. 2025-06-05 HJ 54 Pg. 676

    introduced by Representative Rep. Alabas Farhat

  3. 2025-06-05 HJ 54 Pg. 676

    read a first time

  4. 2025-06-05 HJ 54 Pg. 676

    referred to Committee on Regulatory Reform

Official Summary Text

Consumer credit: interest rates; credit card interest rates; provide cap. Amends sec. 4 of 1995 PA 162 (MCL 445.1854).