HB5161 — Financial institutions: other; limitations on interest charges; modify. Amends sec. 13 of 1939 PA 21 (MCL 493.13).

HB5161 — Financial institutions: other; limitations on interest charges; modify. Amends sec. 13 of 1939 PA 21 (MCL 493.13). · Informed CitizenryThe bill amends 1939 PA 21, the "Regulatory loan act," by modifying Section 13 (MCL 493.13). It establishes rules for licensees regarding interest charges and loan types. A licensee may charge an i…Open in Informed Citizenry