Michigan 2025-2026 Regular Session Status: Passed House 1 R cosponsors

HB 5550 — Financial institutions: other; consumer financial services act; revise internal references related to money transmission services. Amends sec. 10g of 1988 PA 161 (MCL 487.2060g). TIE BAR WITH: HB 5544'26

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

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

This bill has passed the House. Introduced July 01, 2026. It now moves to the second chamber.

Next likely step: consideration and a floor vote in the Senate.

Odds of enactment

Moderate chance

Based on the sponsor, cosponsors, and committee posture, this bill has a moderate chance of becoming law.

Upgrade to see the exact probability and what's driving it.

A statistical estimate from our own model of past outcomes — an insight, not a guarantee. Policymaking is volatile.

Prognosis

Advancing 48% · moderate confidence

  • Passed House

    Current position in the legislative process.

  • 1 sponsor

    1 primary, 0 co-sponsors signed on.

  • Single-party support

    Sponsorship is currently within one party (1 R).

  • Cleared a recorded vote

    Passed 2 recorded votes so far.

Based on stage, sponsorship breadth, committee status, recorded votes, and cross-state momentum — a description of the observable signals, not a prediction.

In plain language

The bill revises internal references in the consumer financial services act regarding money transmission services.

This legislation amends section 10g of the Consumer Financial Services Act to update references related to money transmission services. It aims to ensure clarity and accuracy in the law's language.

Summary

Financial institutions: other; consumer financial services act; revise internal references related to money transmission services. Amends sec. 10g of 1988 PA 161 (MCL 487.2060g). TIE BAR WITH: HB 5544'26

Bill Text

What changed in the latest version

5 added · 4 removed

Plain-language change summary

The latest version of Bill HB 5550 includes five lines of new text while removing four lines from the earlier draft. The additions likely clarify certain points or introduce new provisions that were not in the initial version. Understanding these changes is important because they could impact the bill's implementation and the stakeholders involved.

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Latest
HOUSE BILL NO.
HB-5550, As Passed House, June 25, 2026 HOUSE BILL NO.
(1) If, in the opinion of the commissioner, a person has engaged in fraud or money laundering, the commissioner may serve upon that the person with a written notice of intention to prohibit that person from being employed by, an agent of, or control person of a licensee under this act or a licensee or WAM H04954'25_HB5550_INTR_1 94w5ey 1 registrant under a financial licensing act.
(1) If, in the opinion of the commissioner, a person has engaged in fraud or money laundering, the commissioner may serve upon that the person with a written notice of intention to prohibit that person from being employed by, an agent of, or control person of a licensee under this act or a licensee or WAM H04954'25_HB5550_APH_1 kdhv57 1 registrant under a financial licensing act.
(6) If the commissioner considers that a person served a notice under subsection (1) poses an imminent threat of financial loss to applicants for loans, mortgage loans, secondary mortgage loans, credit card arrangements, or installment sales credit, WAM H04954'25_HB5550_INTR_1 94w5ey 1 borrowers on loans, obligors on installment sale contracts, loan servicing customers, purchasers of mortgage loans or interests in mortgage loans, or purchasers of services for money transmission, services as defined in section 2 of the money transmission services act, the commissioner may serve upon the person with an order of suspension from being employed by, an agent of, or control person of any licensee.
(6) If the commissioner considers that a person served a notice under subsection (1) poses an imminent threat of financial loss to applicants for loans, mortgage loans, secondary mortgage loans, credit card arrangements, or installment sales credit, WAM H04954'25_HB5550_APH_1 kdhv57 1 borrowers on loans, obligors on installment sale contracts, loan servicing customers, purchasers of mortgage loans or interests in mortgage loans, or purchasers of services for money transmission, services as defined in section 2 of the money transmission services act, the commissioner may serve upon the person with an order of suspension from being employed by, an agent of, or control person of any licensee.
(a) "Fraud" includes actionable fraud, actual or constructive WAM H04954'25_HB5550_INTR_1 94w5ey 1 fraud, criminal fraud, extrinsic or intrinsic fraud, fraud in the execution, in the inducement, in fact, or in law, or any other form of fraud.
(a) "Fraud" includes actionable fraud, actual or constructive WAM H04954'25_HB5550_APH_1 kdhv57 1 fraud, criminal fraud, extrinsic or intrinsic fraud, fraud in the execution, in the inducement, in fact, or in law, or any other form of fraud.
Final Page WAM H04954'25_HB5550_INTR_1 94w5ey
Final Page WAM H04954'25_HB5550_APH_1 kdhv57
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Action History

  1. 7/1/2026 - REFERRED TO COMMITTEE ON FINANCE, INSURANCE, AND CONSUMER PROTECTION

Sponsors

Sponsorship breakdown

Export CSV (upgrade) →

1 sponsors · 0 co-sponsors · 146 not signed on · 5 voted No

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (146)

146 members have not signed on to this bill.

Show all 146 →

"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

Votes

passed; given immediate effect Roll Call #269 Yeas 102 Nays 5 Excused 0 Not Voting 3

Passed 102 Yea · 5 Nay
Party YeaNayPresentNot Voting
Republican 52500
Democrat 47000
Unaffiliated 3000
Total 102500
% of votes cast 95%5%0%0%
How each member voted (107)
Member Party Vote
Myers-Phillips — Yea
O’Neal — Yea
St. Germaine — Yea
Alabas Farhat Democrat Yea
Angela Witwer Democrat Yea
Betsy Coffia Democrat Yea
Brenda Carter Democrat Yea
Carol Glanville Democrat Yea
Carrie Rheingans Democrat Yea
Cynthia Neeley Democrat Yea
Denise Mentzer Democrat Yea
Donavan McKinney Democrat Yea
Dylan Wegela Democrat Yea
Emily Dievendorf Democrat Yea
Erin Byrnes Democrat Yea
Helena Scott Democrat Yea
Jason M Hoskins Democrat Yea
Jason Morgan Democrat Yea
Jasper Martus Democrat Yea
Jennifer Conlin Democrat Yea
Jimmie Wilson Jr Democrat Yea
Joey Andrews Democrat Yea
John Fitzgerald Democrat Yea
Joseph Tate Democrat Yea
Julie Brixie Democrat Yea
Julie M. Rogers Democrat Yea
Kara Hope Democrat Yea
Kelly A Breen Democrat Yea
Kristian Grant Democrat Yea
Laurie Pohutsky Democrat Yea
Mai Xiong Democrat Yea
Matt Koleszar Democrat Yea
Matt Longjohn Democrat Yea
Mike McFall Democrat Yea
Morgan Foreman Democrat Yea
Natalie Price Democrat Yea
Noah Arbit Democrat Yea
Penelope Tsernoglou Democrat Yea
Peter Herzberg Democrat Yea
Phil Skaggs Democrat Yea
Ranjeev Puri Democrat Yea
Reggie Miller Democrat Yea
Regina Weiss Democrat Yea
Samantha Steckloff Democrat Yea
Sharon MacDonell Democrat Yea
Stephanie A Young Democrat Yea
Stephen Wooden Democrat Yea
Tullio Liberati Jr. Democrat Yea
Veronica Paiz Democrat Yea
Will Snyder Democrat Yea
Angela Rigas Republican Yea
Ann M. Bollin Republican Yea
Bill Schuette Republican Yea
Brad Paquette Republican Yea
Bradley Slagh Republican Yea
Brian BeGole Republican Yea
Bryan Posthumus Republican Yea
Cameron Cavitt Republican Yea
Curtis S VanderWall Republican Yea
David Prestin Republican Yea
David W. Martin Republican Yea
Donni Steele Republican Yea
Douglas C Wozniak Republican Yea
Gina Johnsen Republican Yea
Greg VanWoerkom Republican Yea
Gregory Alexander Republican Yea
Gregory Markkanen Republican Yea
Jaime Greene Republican Nay
James DeSana Republican Nay
Jamie Thompson Republican Yea
Jason Woolford Republican Yea
Jay DeBoyer Republican Yea
Jennifer Wortz Republican Nay
Jerry Neyer Republican Yea
John R. Roth Republican Yea
Joseph A. Aragona Republican Yea
Joseph Fox Republican Yea
Joseph Pavlov Republican Yea
Josh Schriver Republican Yea
Karl Bohnak Republican Yea
Kathy Schmaltz Republican Yea
Ken Borton Republican Yea
Luke Meerman Republican Yea
Mark A Tisdel Republican Yea
Matt Hall Republican Yea
Matt Maddock Republican Yea
Matthew Bierlein Republican Yea
Mike Harris Republican Yea
Mike Hoadley Republican Yea
Mike Mueller Republican Yea
Nancy DeBoer Republican Yea
Nancy Jenkins-Arno Republican Yea
Parker Fairbairn Republican Yea
Pat Outman Republican Yea
Pauline Wendzel Republican Yea
Phil Green Republican Yea
Rachelle Smit Republican Yea
Ron Robinson Republican Yea
Rylee Linting Republican Yea
Sarah Lightner Republican Yea
Steve Carra Republican Nay
Steve Frisbie Republican Yea
Thomas Kuhn Republican Yea
Tim Kelly Republican Yea
Timothy Beson Republican Nay
Tom Kunse Republican Yea
William Bruck Republican Yea

Official roll call →

passed; given immediate effect

Passed 102 Yea · 5 Nay · 3 Other
Party YeaNayPresentNot Voting
Republican 51500
Democrat 47000
Unaffiliated 4000
Total 102500
% of votes cast 95%5%0%0%
How each member voted (107)
Member Party Vote
Myers-Phillips — Yea
O’Neal — Yea
Outman — Yea
St. Germaine — Yea
Alabas Farhat Democrat Yea
Angela Witwer Democrat Yea
Betsy Coffia Democrat Yea
Brenda Carter Democrat Yea
Carol Glanville Democrat Yea
Carrie Rheingans Democrat Yea
Cynthia Neeley Democrat Yea
Denise Mentzer Democrat Yea
Donavan McKinney Democrat Yea
Dylan Wegela Democrat Yea
Emily Dievendorf Democrat Yea
Erin Byrnes Democrat Yea
Helena Scott Democrat Yea
Jason M Hoskins Democrat Yea
Jason Morgan Democrat Yea
Jasper Martus Democrat Yea
Jennifer Conlin Democrat Yea
Jimmie Wilson Jr Democrat Yea
Joey Andrews Democrat Yea
John Fitzgerald Democrat Yea
Joseph Tate Democrat Yea
Julie Brixie Democrat Yea
Julie M. Rogers Democrat Yea
Kara Hope Democrat Yea
Kelly A Breen Democrat Yea
Kristian Grant Democrat Yea
Laurie Pohutsky Democrat Yea
Mai Xiong Democrat Yea
Matt Koleszar Democrat Yea
Matt Longjohn Democrat Yea
Mike McFall Democrat Yea
Morgan Foreman Democrat Yea
Natalie Price Democrat Yea
Noah Arbit Democrat Yea
Penelope Tsernoglou Democrat Yea
Peter Herzberg Democrat Yea
Phil Skaggs Democrat Yea
Ranjeev Puri Democrat Yea
Reggie Miller Democrat Yea
Regina Weiss Democrat Yea
Samantha Steckloff Democrat Yea
Sharon MacDonell Democrat Yea
Stephanie A Young Democrat Yea
Stephen Wooden Democrat Yea
Tullio Liberati Jr. Democrat Yea
Veronica Paiz Democrat Yea
Will Snyder Democrat Yea
Angela Rigas Republican Yea
Ann M. Bollin Republican Yea
Bill Schuette Republican Yea
Brad Paquette Republican Yea
Bradley Slagh Republican Yea
Brian BeGole Republican Yea
Bryan Posthumus Republican Yea
Cameron Cavitt Republican Yea
Curtis S VanderWall Republican Yea
David Prestin Republican Yea
David W. Martin Republican Yea
Donni Steele Republican Yea
Douglas C Wozniak Republican Yea
Gina Johnsen Republican Yea
Greg VanWoerkom Republican Yea
Gregory Alexander Republican Yea
Gregory Markkanen Republican Yea
Jaime Greene Republican Nay
James DeSana Republican Nay
Jamie Thompson Republican Yea
Jason Woolford Republican Yea
Jay DeBoyer Republican Yea
Jennifer Wortz Republican Nay
Jerry Neyer Republican Yea
John R. Roth Republican Yea
Joseph A. Aragona Republican Yea
Joseph Fox Republican Yea
Joseph Pavlov Republican Yea
Josh Schriver Republican Yea
Karl Bohnak Republican Yea
Kathy Schmaltz Republican Yea
Ken Borton Republican Yea
Luke Meerman Republican Yea
Mark A Tisdel Republican Yea
Matt Hall Republican Yea
Matt Maddock Republican Yea
Matthew Bierlein Republican Yea
Mike Harris Republican Yea
Mike Hoadley Republican Yea
Mike Mueller Republican Yea
Nancy DeBoer Republican Yea
Nancy Jenkins-Arno Republican Yea
Parker Fairbairn Republican Yea
Pauline Wendzel Republican Yea
Phil Green Republican Yea
Rachelle Smit Republican Yea
Ron Robinson Republican Yea
Rylee Linting Republican Yea
Sarah Lightner Republican Yea
Steve Carra Republican Nay
Steve Frisbie Republican Yea
Thomas Kuhn Republican Yea
Tim Kelly Republican Yea
Timothy Beson Republican Nay
Tom Kunse Republican Yea
William Bruck Republican Yea

Official roll call →

Subjects

finance
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 HB 5550 do?
Financial institutions: other; consumer financial services act; revise internal references related to money transmission services. Amends sec. 10g of 1988 PA 161 (MCL 487.2060g). TIE BAR WITH: HB 5544'26
Who sponsors HB 5550?
HB 5550 is sponsored by Bill Schuette (Republican).
What is the current status of HB 5550?
This bill has passed the House. Introduced July 01, 2026. It now moves to the second chamber.
Where can I track HB 5550?
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Last checked for changes 3 months ago · updated continuously

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