Michigan legislation · 103rd Legislature
Michigan SB750: Financial institutions: payday lending; citations to the motor vehicle sales finance act in the deferred presentment service transactions act; revise. Amends sec. 2 of 2005 PA 244 (MCL 487.2122). TIE BAR WITH: SB 0739'25
Status: In committee, June 10, 2026
What the bill says
To amend 2005 PA 244, entitled "Deferred presentment service transactions act," by amending section 2 (MCL 487.2122), as amended by 2016 PA 140.
From the introduced text, December 16, 2025:
A bill to amend 2005 PA 244, entitled "Deferred presentment service transactions act," by amending section 2 (MCL 487.2122), as amended by 2016 PA 140. the people of the state of michigan enact: Sec. 2. (1) As used in this act: (a) "Applicant" means a person that is seeking a license to engage in the business of providing deferred presentment service transactions under this act. (b) "Check" means a draft that is payable on demand and drawn on a bank, savings bank, savings and loan association, or credit union. Check includes any negotiable instrument that represents evidence of an obligation to pay even if it is described on its face by another term. (c) "Closed" in connection with a deferred presentment service transaction means that 1 of the following has occurred concerning each of the customer's checks that is the basis of the deferred presentment service transaction: (i) The check is redeemed by the customer by payment to the licensee of the face amount of the check in cash or payment from a debit card that meets the requirements of section 35(11). (ii) The check is exchanged by the licensee for a cashier's check or cash from the customer's financial institution. (iii) The check is deposited by the licensee and the licensee has evidence that the person has satisfied the …
Sponsors
- Victory, Roger (R, 31) · primary sponsor
- Cavanagh, Mary (D, 6)
- Bayer, Rosemary (D, 13)
Latest actions
- : PLACED ON ORDER OF THIRD READING
- : REPORTED BY COMMITTEE OF THE WHOLE FAVORABLY WITHOUT AMENDMENT(S)
- : REFERRED TO COMMITTEE OF THE WHOLE
- : REPORTED FAVORABLY WITHOUT AMENDMENT 4/22/2026
- : REFERRED TO COMMITTEE ON FINANCE, INSURANCE, AND CONSUMER PROTECTION
- : INTRODUCED BY SENATOR ROGER VICTORY
Votes
- Reported Favorably Without Amendment 4/22/2026 (April 23, 2026): 5 yea, 3 nay, passed
Subjects: Trade: vehicles, Financial institutions: payday lending
Common questions
- What is SB750?
- SB750 is a bill in the Michigan Legislature (103rd Legislature): Financial institutions: payday lending; citations to the motor vehicle sales finance act in the deferred presentment service transactions act; revise. Amends sec. 2 of 2005 PA 244 (MCL 487.2122). TIE BAR WITH: SB 0739'25.
- What does SB750 do?
- In its own words: To amend 2005 PA 244, entitled "Deferred presentment service transactions act," by amending section 2 (MCL 487.2122), as amended by 2016 PA 140.
- What is the status of SB750?
- In committee as of June 10, 2026. Latest action: PLACED ON ORDER OF THIRD READING (June 10, 2026).
- Who sponsored SB750?
- Victory, Roger (R, 31), with 2 co-sponsors.
- Where is the official record for SB750?
- On the Michigan Legislature website: https://www.legislature.mi.gov/Bills/Bill?ObjectName=2025-SB-0750
Source: official Michigan record. Tracked by Delilah, AI for legislation across all 50 states and Congress.