Financial institutions: other; consumer financial services act; revise internal references related to money transmission services. Amends sec. 5 of 1988 PA 161 (MCL 487.2055). TIE BAR WITH: HB 5544'26

Where it is in the process

Plain-English Summary

This bill changes the financial requirements for companies applying for or holding certain licenses under the Consumer Financial Services Act. It updates the net worth amounts applicants need to show, especially for those involved in money transmission services. The bill also clarifies how net worth is calculated and lists specific assets that cannot be included in that calculation.

No official summary on file for this bill · generated by Gemini 2.5 Flash from its full text

Votes

Sponsorship · 6 Sponsors

Democrat2Republican4Independent0Other0

R · PrimeSarah Lightner
R · CoMark Tisdel
R · CoDavid Martin
D · CoBrenda Carter
D · CoWill Snyder
R · CoBill Schuette

Read full bill text →↓ Why am I seeing this?

Want updates?

Get notified when MI HB5548 moves stage

Pick a channel below. Every option is opt-in, and we tell you exactly what we store.

Email

Identified

We store your email address and the bill ID. We'll send a confirmation link first; alerts only start after you click it. Every email has a one-click unsubscribe.

Coming soon

RSS feed· Atom 1.0 + JSON Feed per bill
Bluesky· follow a CivicRadar bot post per status change
Telegram· channel or DM via bot
Discord· channel webhook
WhatsApp· via WhatsApp Business
SMS· via Twilio