Bill
HB 5550
Financial institutions: other; consumer financial services act; revise internal references related to money transmission services. Amends sec. 10g of 1988 PA 161 (MCL 487.2060g). TIE BAR WITH: HB 5544'26
2025-2026 Regular Session
Introduced by Brenda Carter and 5 co-sponsors
Michigan can suspend or prohibit individuals tied to money-transmitter licensees for fraud or money laundering, with expedited actions in emergencies.
REFERRED TO COMMITTEE ON FINANCE, INSURANCE, AND CONSUMER PROTECTION