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HB5566 • 2026

Financial institutions: generally; credit reform act; amend to exempt earned wage access services. Amends sec. 2 of 1995 PA 162 (MCL 445.1852). TIE BAR WITH: HB 5558'26

Financial institutions: generally; credit reform act; amend to exempt earned wage access services. Amends sec. 2 of 1995 PA 162 (MCL 445.1852). TIE BAR WITH: HB 5558'26

Labor
Active

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

Sponsor
Gregory Alexander (District 98), Peter Herzberg (District 25), Matt Bierlein (District 97), Joseph Tate (District 9), John Roth (District 104), Tullio Liberati (District 2), William Bruck (District 30)
Last action
2026-04-30
Official status
referred to second reading
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.

Financial institutions: generally; credit reform act; amend to exempt earned wage access services. Amends sec. 2 of 1995 PA 162 (MCL 445.1852). TIE BAR WITH: HB 5558'26

Financial institutions: generally; credit reform act; amend to exempt earned wage access services.

What This Bill Does

  • Financial institutions: generally; credit reform act; amend to exempt earned wage access services.
  • Amends sec.
  • 2 of 1995 PA 162 (MCL 445.1852).
  • TIE BAR WITH: HB 5558'26

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. 2026-04-30 HJ 34 Pg. 0

    reported with recommendation without amendment

  2. 2026-04-30 HJ 34 Pg. 0

    referred to second reading

  3. 2026-02-26 HJ 16 Pg. 189

    bill electronically reproduced 02/24/2026

  4. 2026-02-24 HJ 14 Pg. 163

    introduced by Representative Rep. Gregory Alexander

  5. 2026-02-24 HJ 14 Pg. 163

    read a first time

  6. 2026-02-24 HJ 14 Pg. 163

    referred to Committee on Regulatory Reform

Official Summary Text

Financial institutions: generally; credit reform act; amend to exempt earned wage access services. Amends sec. 2 of 1995 PA 162 (MCL 445.1852). TIE BAR WITH: HB 5558'26