Michigan 2025-2026 Regular Session Status: Introduced 1 R cosponsors

SB 1029 — Financial institutions: credit unions; notice requirements for certain closures by credit unions; modify. Amends sec. 221 of 2003 PA 215 (MCL 490.221).

Last action — REFERRED TO COMMITTEE ON FINANCE, INSURANCE, AND CONSUMER PROTECTION

  1. 1
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed House
  5. 5
    To Executive
  6. 6
    Enacted

This bill has been introduced in the Senate. Introduced June 10, 2026. It must pass committee before a floor vote.

Next likely step: a committee referral and hearing.

Prognosis

Not enough signal yet

Where this bill stands today.

Odds of enactment

Low

How often bills like it became law.

Not enough signal yet to read this bill's trajectory — we surface a likelihood only once there's real movement (stage, sponsorship, committee, or votes) to point to.

Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.

In plain language

The bill updates notice requirements for credit union closures.

This bill changes the rules regarding how credit unions must notify members about certain types of closures. The goal is to ensure that members receive clear and timely information.

What this means for you
  • Consumers: This means consumers will receive more timely and clearer notifications if their credit union is closing.

Summary

Financial institutions: credit unions; notice requirements for certain closures by credit unions; modify. Amends sec. 221 of 2003 PA 215 (MCL 490.221).

Bill Text

Action History

  1. REFERRED TO COMMITTEE ON FINANCE, INSURANCE, AND CONSUMER PROTECTION

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 146 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (146)

146 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

finance labor
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does SB 1029 do?
Financial institutions: credit unions; notice requirements for certain closures by credit unions; modify. Amends sec. 221 of 2003 PA 215 (MCL 490.221).
Who sponsors SB 1029?
SB 1029 is sponsored by Kevin Daley (Republican).
What is the current status of SB 1029?
This bill has been introduced in the Senate. Introduced June 10, 2026. It must pass committee before a floor vote.
Where can I track SB 1029?
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Last checked for changes 3 months ago · updated continuously

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