Rescue Michigan: Operation Watchdog

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HB 5290: Restrict payday loan rates
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Introduced November 1, 2023
Official text and analysis
Financial institutions: payday lending; deferred presentment service transactions that charge service fees greater than an annual rate of 36%; prohibit.
Tags: Regulations, Special Interest Deal   
Sponsor: Abraham Aiyash
Cosponsors: Carol Glanville, Natalie Price, Stephanie Young, Cynthia Neeley, Jason Morgan, Kimberly Edwards, Amos O'Neal, Emily Dievendorf, Kara Hope, Veronica Paiz, Donavan McKinney, Denise Mentzer, Felicia Brabec, Lori Stone, Jimmie Wilson, Pat Outman, Sharon MacDonell, John Roth, Gina Johnsen, Dale Zorn, Alabas Farhat, Karen Whitsett
Referred to House Insurance and Financial Services Committee




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