HB5800 — Financial institutions: payday lending; deferred presentment services transactions act; revise internal references related to money transmission services. Amends sec. 2 of 2005 PA 244 (MCL 487.2122).

HB5800 — Financial institutions: payday lending; deferred presentment services transactions act; revise internal references related to money transmission services. Amends sec. 2 of 2005 PA 244 (MCL 487.2122). · Informed CitizenryThis bill amends the Deferred Presentment Service Transactions Act by revising definitions within the act. It provides specific definitions for terms such as 'Applicant,' 'Check,' 'Closed,' 'Commis…Open in Informed Citizenry