SB269 — Occupations: pawnbrokers; allowable rate of interest charged by pawnbrokers; increase, and provide civil fines. Amends title & secs. 8, 9 & 18 of 1917 PA 273 (MCL 446.208 et seq.).

SB269 — Occupations: pawnbrokers; allowable rate of interest charged by pawnbrokers; increase, and provide civil fines. Amends title & secs. 8, 9 & 18 of 1917 PA 273 (MCL 446.208 et seq.). · Informed CitizenryThis bill amends the Michigan law regulating and licensing pawnbrokers. It increases the maximum allowable interest rate a pawnbroker can charge on a loan from 3% to 5% per month. The bill also upd…Open in Informed Citizenry