Bill
HB 4581
Consumer credit: interest rates; credit card interest rates; provide cap. Amends sec. 4 of 1995 PA 162 (MCL 445.1854).
2025-2026 Regular Session
Introduced by Erin Byrnes and 4 co-sponsors
HB 4581 would cap interest on consumer loans by regulated lenders at 10% per year, with depository institutions exempt for credit cards.
bill electronically reproduced 06/05/2025