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SB837 • 2026

Financial institutions: payday lending; deferred presentment services transactions act; revise internal references related to money transmission services. Amends sec. 2 of 2005 PA 244 (MCL 487.2122). TIE BAR WITH: SB 0835'26

Financial institutions: payday lending; deferred presentment services transactions act; revise internal references related to money transmission services. Amends sec. 2 of 2005 PA 244 (MCL 487.2122). TIE BAR WITH: SB 0835'26

Active

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

Sponsor
John Damoose (District 37), Rosemary Bayer (District 13), Mary Cavanagh (District 6), Roger Victory (District 31), Veronica Klinefelt (District 11)
Last action
2026-03-17
Official status
REFERRED TO COMMITTEE ON FINANCE, INSURANCE, AND CONSUMER PROTECTION
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: payday lending; deferred presentment services transactions act; revise internal references related to money transmission services. Amends sec. 2 of 2005 PA 244 (MCL 487.2122). TIE BAR WITH: SB 0835'26

Financial institutions: payday lending; deferred presentment services transactions act; revise internal references related to money transmission services.

What This Bill Does

  • Financial institutions: payday lending; deferred presentment services transactions act; revise internal references related to money transmission services.
  • Amends sec.
  • 2 of 2005 PA 244 (MCL 487.2122).
  • TIE BAR WITH: SB 0835'26

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. 2026-03-17 SJ 25 Pg. 207

    INTRODUCED BY SENATOR JOHN DAMOOSE

  2. 2026-03-17 SJ 25 Pg. 207

    REFERRED TO COMMITTEE ON FINANCE, INSURANCE, AND CONSUMER PROTECTION

Official Summary Text

Financial institutions: payday lending; deferred presentment services transactions act; revise internal references related to money transmission services. Amends sec. 2 of 2005 PA 244 (MCL 487.2122). TIE BAR WITH: SB 0835'26