Bill
HB 5799
Financial institutions: other; consumer financial services act; revise internal references related to money transmission services. Amends secs. 2, 5, 6 & 10g of 1988 PA 161 (MCL 487.2052 et seq.).
2023-2024 Regular Session
Introduced by John Fitzgerald and 3 co-sponsors
Aligns the Consumer Financial Services Act with the Money Transmission Modernization Act, shifting money-transmission oversight to DIFS and updating bonds and net-worth rules.
REFERRED TO COMMITTEE ON GOVERNMENT OPERATIONS