2016 Senate Bill 748 / Public Act 175

Expand bank examiner authority, provide revenue stream

Introduced in the Senate

Feb. 4, 2016

Introduced by Sen. Darwin Booher (R-35)

To permit state bank examiners to include addenda to their reports that recommend “best practices or other improvements in the operation of a bank” not required by law or regulation. Also, to deposit fees and charges related to these activities into a segregated state fund that the relevant bureau could draw on at will, which is essentially the current system with a new segregated fund.

Referred to the Committee on Banking and Financial Institutions

Feb. 25, 2016

Reported without amendment

With the recommendation that the substitute (S-2) be adopted and that the bill then pass.

March 9, 2016

Passed in the Senate 36 to 1 (details)

Received in the House

March 9, 2016

Referred to the Committee on Financial Services

May 11, 2016

Reported without amendment

Without amendment and with the recommendation that the bill pass.

May 18, 2016

Passed in the House 105 to 4 (details)

To permit state bank examiners to include addenda to their reports that recommend “best practices or other improvements in the operation of a bank” not required by law or regulation. Also, to deposit fees and charges related to these activities into a segregated state fund that the relevant bureau could draw on at will, which is essentially the current system with a new segregated fund.

Signed by Gov. Rick Snyder

June 12, 2016