MI SB0632 | 2023-2024 | 102nd Legislature

Status

Spectrum: Moderate Partisan Bill (Democrat 8-2)
Status: Engrossed on March 14 2024 - 50% progression
Action: 2024-03-14 - Referred To Committee On Insurance And Financial Services
Pending: House Insurance And Financial Services Committee
Text: Latest bill text (Engrossed) [HTML]

Summary

Financial institutions: payday lending; deferred presentment service transactions that charge service fees greater than an annual rate of 36%; prohibit. Amends sec. 33 of 2005 PA 244 (MCL 487.2153).

Tracking Information

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Title

Financial institutions: payday lending; deferred presentment service transactions that charge service fees greater than an annual rate of 36%; prohibit. Amends sec. 33 of 2005 PA 244 (MCL 487.2153).

Sponsors


Roll Calls

2024-03-14 - Senate - Senate Third Reading: Passed Roll Call # 58 (Y: 24 N: 13 NV: 1 Abs: 0) [PASS]
2024-03-07 - Senate - Reported Favorably Without Amendment (Y: 6 N: 1 NV: 0 Abs: 0) [PASS]

History

DateChamberAction
2024-03-14HouseReferred To Committee On Insurance And Financial Services
2024-03-14HouseRead A First Time
2024-03-14HouseReceived On 03/14/2024
2024-03-14SenatePassed Roll Call # 58 Yeas 24 Nays 13 Excused 0 Not Voting 1
2024-03-14SenateAmendment(s) Defeated
2024-03-13SenatePlaced On Order Of Third Reading
2024-03-13SenateReported By Committee Of The Whole Favorably Without Amendment(s)
2024-03-07SenateReferred To Committee Of The Whole
2024-03-07SenateReported Favorably Without Amendment
2023-11-01SenateReferred To Committee On Finance, Insurance, And Consumer Protection
2023-11-01SenateIntroduced By Senator Sarah Anthony

Subjects


Michigan State Sources

TypeSource
Summaryhttps://legislature.mi.gov/Bills/Bill?ObjectName=2023-SB-0632
Texthttps://legislature.mi.gov/documents/2023-2024/billintroduced/Senate/htm/2023-SIB-0632.htm
Texthttps://legislature.mi.gov/documents/2023-2024/billengrossed/Senate/htm/2023-SEBS-0632.htm
Supplementhttps://legislature.mi.gov/documents/2023-2024/billanalysis/Senate/pdf/2023-SFA-0632-G.pdf
Supplementhttps://legislature.mi.gov/documents/2023-2024/billanalysis/Senate/pdf/2023-SFA-0632-F.pdf
Supplementhttps://legislature.mi.gov/documents/2023-2024/billanalysis/House/pdf/2023-HLA-0632-1BAAEBC7.pdf
Supplementhttps://legislature.mi.gov/documents/2023-2024/billanalysis/Senate/pdf/2023-SFA-0632-U.pdf
Roll Callhttps://legislature.mi.gov/documents/2023-2024/Journal/Senate/htm/2024-SJ-03-07-024.htm
Roll Callhttps://legislature.mi.gov/documents/2023-2024/Journal/Senate/htm/2024-SJ-03-14-027.htm

Bill Comments

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