HB5549 — Financial institutions: other; consumer financial services act; revise internal references related to money transmission services. Amends sec. 6 of 1988 PA 161 (MCL 487.2056). TIE BAR WITH: HB 5544'26

HB5549 — Financial institutions: other; consumer financial services act; revise internal references related to money transmission services. Amends sec. 6 of 1988 PA 161 (MCL 487.2056). TIE BAR WITH: HB 5544'26 · Informed CitizenryThis bill amends the Consumer Financial Services Act (MCL 487.2056) regarding licensing requirements for financial institutions. It mandates that applicants must furnish a surety bond or letter of…Open in Informed Citizenry