2023 House Bill 5364

Financial institutions: payday lending; citations to the motor vehicle sales finance act in the deferred presentment service transactions act; revise.

A bill to amend 2005 PA 244, entitled “Deferred presentment service transactions act,” by amending section 2 (MCL 487.2122), as amended by 2016 PA 140.

Official record

House Fiscal Agency Analysis

This bill would make complementary changes, and update citation references needed to implement HB 5354, in the following acts: • Deferred Presentment Service Transactions Act (HB 5364; MCL 487.2122).

Introduced in the House

Nov. 14, 2023

Introduced by Reps. Sharon MacDonell (D-56) and Phil Skaggs (D-80)

Referred to the Committee on Judiciary

Jan. 10, 2024

Referred to the Committee on Insurance and Financial Services

May 23, 2024

Reported without amendment