KLS Keeping Law Simple Legislation in plain English

Straight-ahead summaries built from the official bill text. We keep the source links front and center and leave the decision up to you.

Back to Michigan

HB5569 • 2026

Financial institutions: generally; criminal usury; amend to exempt earned wage access services. Amends 1968 PA 259 (MCL 438.41 - 438.42) by adding sec. 1a. TIE BAR WITH: HB 5558'26

Financial institutions: generally; criminal usury; amend to exempt earned wage access services. Amends 1968 PA 259 (MCL 438.41 - 438.42) by adding sec. 1a. TIE BAR WITH: HB 5558'26

Labor
Active

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

Sponsor
Peter Herzberg (District 25), Gregory Alexander (District 98), Will Snyder (District 87), Matt Bierlein (District 97), Douglas Wozniak (District 59), Joseph Tate (District 9), John Roth (District 104), Tullio Liberati (District 2), Tyrone Carter (District 1), 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; criminal usury; amend to exempt earned wage access services. Amends 1968 PA 259 (MCL 438.41 - 438.42) by adding sec. 1a. TIE BAR WITH: HB 5558'26

Financial institutions: generally; criminal usury; amend to exempt earned wage access services.

What This Bill Does

  • Financial institutions: generally; criminal usury; amend to exempt earned wage access services.
  • Amends 1968 PA 259 (MCL 438.41 - 438.42) by adding sec.
  • 1a.
  • 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. Peter Herzberg

  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; criminal usury; amend to exempt earned wage access services. Amends 1968 PA 259 (MCL 438.41 - 438.42) by adding sec. 1a. TIE BAR WITH: HB 5558'26