Financial Services

MI - Representative Mike Callton (R)

Title:

Committee Chair

MI - Representative Pat Somerville (R)

Title:

Majority Vice-chair

MI - Representative Jeff Farrington (R)

Title:

Member

MI - Representative Lisa Posthumus Lyons (R)

Title:

Member

MI - Representative Peter Pettalia (R)

Title:

Member

MI - Representative Tim Kelly (R)

Title:

Member

MI - Representative Joel Johnson (R)

Title:

Member

MI - Representative David Nathan (D)

Title:

Minority Vice-chair

MI - Representative Woodrow Stanley (D)

Title:

Member

MI - Representative Marilyn Lane (D)

Title:

Member

MI - Representative Collene Lamonte (D)

Title:

Member

MI - Representative Stacy Oakes (D)

Title:

Member

MI - HB5954 Occupations; pawnbrokers; title loans; revise monthly interest and usage fee provisions. Amends secs. 8 & 9 of 1917 PA 273 (MCL 446.208 & 446.209).

MI - HB5922 Retirement; investments; investment fiduciary of certain retirement systems investing in small business; increase cap on percentage of retirement system assets. Amends sec. 20a of 1965 PA 314 (MCL 38.1140a).

MI - HB5899 Financial institutions; mortgage brokers and lenders; requiring a mortgage escrow account for property taxes; prohibit for mortgage of certain exempt property owned by disabled veterans. Amends sec. 22 of 1987 PA 173 (MCL 445.1672).

MI - SB1087 Financial institutions; loan officers; certain servicer loss mitigation staff; exempt from licensure. Amends sec. 5 of 2009 PA 75 (MCL 493.135).

MI - HR394 A resolution to memorialize the Congress of the United States to enact legislation that would prohibit credit inquiries from impacting credit scores.

MI - HB5412 Financial institutions; banks; savings promotion raffles by state banks; allow. Amends 1999 PA 276 (MCL 487.11101 - 487.15105) by adding sec. 4111.

MI - HR395 A resolution to urge the Congress of the United States to direct the Comptroller General to complete a full audit of the Board of Governors of the Federal Reserve System and the federal reserve banks.

MI - SB550 Commercial code; bank deposits and collections; application of article 4a of the uniform commercial code; revise. Amends sec. 4A108 of 1962 PA 174 (MCL 440.4608).

MI - SB548 Commercial code; commercial paper; references to uniform commercial code in uniform electronic transactions act; update. Amends sec. 16 of 2000 PA 305 (MCL 450.846). TIE BAR WITH: SB 0547'13

MI - SB551 Commercial code; secured transactions; calculation of damages for violation of article 9 by secured party; revise, and extend rules in deficiency actions to consumer transactions. Amends secs. 9625 & 9626 of 1962 PA 174 (MCL 440.9625 & 440.9626).

MI - SB383 Civil procedure; foreclosure; redemption period; terminate redemption rights if property is damaged. Amends sec. 3240 of 1961 PA 236 (MCL 600.3240). TIE BAR WITH: HB 4765'13, HB 4766'13, SB 0380'13

MI - SB547 Commercial code; commercial paper; general revisions to article 3 of the uniform commercial code; provide for. Amends secs. 3103, 3106, 3116, 3119, 3305, 3309, 3312, 3416, 3417, 3419, 3602, 3604 & 3605 of 1962 PA 174 (MCL 440.3103 et seq.).

MI - SB549 Commercial code; bank deposits and collections; general revisions to article 4 of the uniform commercial code; provide for. Amends secs. 4104, 4207, 4208, 4212, 4301 & 4403 of 1962 PA 174 (MCL 440.4104 et seq.).

MI - SB174 Consumer credit; credit reports and reporting agencies; security freeze on credit reports concerning other children and consumers; allow under certain circumstance. Creates new act.

MI - SB381 Civil procedure; foreclosure; mortgage modification program; phase out and repeal. Amends sec. 3205e of 1961 PA 236 (MCL 600.3205e) & repeals secs. 3205a - 3205d of 1961 PA 236 (MCL 600.3205a et seq.). TIE BAR WITH: HB 4764'13, HB 4766'13, HB 4767'13, SB 0380'13, SB 0382'13, SB 0383'13

MI - SB19 Financial institutions; mortgage brokers and lenders; appointments to the mortgage industry advisory board; modify. Amends sec. 33 of 1987 PA 173 (MCL 445.1683).

MI - SB382 Civil procedure; foreclosure; federal loss mitigation procedures; require lenders to comply. Amends 1961 PA 236 (MCL 600.101 - 600.9947) by adding sec. 3206. TIE BAR WITH: HB 4764'13, HB 4765'13, HB 4767'13, SB 0380'13, SB 0381'13, SB 0383'13

MI - SB380 Civil procedure; foreclosure; mortgage modification program; revise. Amends sec. 3204 of 1961 PA 236 (MCL 600.3204). TIE BAR WITH: HB 4765'13, HB 4766'13, SB 0383'13

MI - HB5119 Commercial code; bank deposits and collections; application of article 4a to certain fund transfers; revise. Amends sec. 4A108 of 1962 PA 174 (MCL 440.4608).

MI - HB5032 Financial institutions; banks; written disclosure of rights of account holders; require for joint accounts. Amends 1999 PA 276 (MCL 487.11101 - 487.15105) by adding sec. 4103a.

MI - HR260 A resolution to urge the Congress and the President of the United States to enact legislation that would reinstate the separation of commercial and investment banking functions in effect under the Glass-Steagall Act.

MI - HB5030 Financial institutions; credit unions; written disclosure of rights of account holders; require for joint accounts. Amends 1968 PA 41 (MCL 490.51 - 490.65) by adding sec. 14b.

MI - HB5031 Financial institutions; savings banks; written disclosure of rights of account holders; require for joint accounts. Amends 1996 PA 354 (MCL 487.3101 - 487.3804) by adding sec. 435.

MI - HB4800 Civil procedure; foreclosure; judicial foreclosure; require for certain residential mortgages. Amends secs. 3201 & 3240 of 1961 PA 236 (MCL 600.3201 & 600.3240) & adds secs. 3117 & 3118.

MI - HB4767 Civil procedure; foreclosure; redemption period; shorten period for foreclosures in which federal loss mitigation procedures have been followed. Amends sec. 3240 of 1961 PA 236 (MCL 600.3240). TIE BAR WITH: HB 4764'13, HB 4765'13, HB 4766'13

MI - HB4765 Civil procedure; foreclosure; mortgage modification program; extend sunset and phase out. Amends sec. 3205e of 1961 PA 236 (MCL 600.3205e). TIE BAR WITH: HB 4764'13, HB 4766'13, HB 4767'13

MI - HB4766 Civil procedure; foreclosure; mortgage modification; require certain mortgage servicing agents to personally meet with mortgagors. Amends 1961 PA 236 (MCL 600.101 - 600.9947) by adding sec. 3206. TIE BAR WITH: HB 4764'13, HB 4765'13, HB 4767'13

MI - HB4764 Civil procedure; foreclosure; mortgage modification program; adopt federal loss mitigation program. Amends sec. 3204 of 1961 PA 236 (MCL 600.3204). TIE BAR WITH: HB 4765'13, HB 4766'13, HB 4767'13

MI - HB5593 Financial institutions; loan officers; origination of mortgage loans on behalf of a depository institution or the loan officer's sponsor; allow. Amends sec. 5 of 2009 PA 75 (MCL 493.135).

MI - SB664 Consumer credit; debt management; debt management act; make general revisions. Amends title & secs. 2, 4, 5, 6, 8, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20 & 26 of 1975 PA 148 (MCL 451.412 et seq.) & adds sec. 8a.

MI - HB5794 Civil procedure; foreclosure; property inspections during redemption period; correct procedural requirement. Amends secs. 3238 & 3241a of 1961 PA 236 (MCL 600.3238 & 600.3241a).

MI - HB5795 Civil procedure; foreclosure; eligibility for right to redeem property; require interest to be recorded. Amends sec. 3140 of 1961 PA 236 (MCL 600.3140).

MI - HB5835 Occupations; business licensing and regulation; statewide database of transactions by precious metal and gem dealers; create, and require participation. Amends secs. 4 & 8 of 1981 PA 95 (MCL 445.484 & 445.488) & adds sec. 4a. TIE BAR WITH: HB 5836'14, HB 5837'14

MI - HB5836 Occupations; junk and secondhand dealers; statewide database of transactions; create, and require participation. Amends secs. 4, 5 & 8 of 1917 PA 350 (MCL 445.404 et seq.) & adds sec. 4a. TIE BAR WITH: HB 5835'14, HB 5837'14

MI - HB5837 Occupations; pawnbrokers; statewide electronic database of pawned items and certain other items of personal property; provide for, and make general revisions to licensing statute. Amends title & secs. 1, 2, 3, 5, 6 & 18 of 1917 PA 273 (MCL 446.201 et seq.). TIE BAR WITH: HB 5835'14, HB 5836'14

MI - HR417 A resolution to urge the Congress of the United States to renew the charter for the U.S. Export-Import Bank and to amend the charter to ensure the bank cannot provide an export subsidy to a foreign company which would lead to a significant loss of U.S. jobs.

MI - HCR19 A concurrent resolution to urge the Congress of the United States to repeal section 1502 of the Dodd-Frank Wall Street Reform and Consumer Protection Act.

MI - HR282 A resolution to urge the Congress of the United States to repeal section 1502 of the Dodd-Frank Wall Street Reform and Consumer Protection Act.

MI - HB5277 Civil procedure; foreclosure; property inspections during redemption period; revise procedures for. Amends secs. 3204, 3240 & 3278 of 1961 PA 236 (MCL 600.3204 et seq.); adds secs. 3237 & 3238 & repeals secs. 3205, 3205e & 3206 of 1961 PA 236 (MCL 600.3205 et seq.).

MI - HB5413 Crimes; gambling; exclusion of savings promotion raffles by state banks from gambling and lottery crimes; clarify. Amends secs. 315a & 376a of 1931 PA 328 (MCL 750.315a & 750.376a). TIE BAR WITH: HB 5412'14

MI - HB5594 Financial institutions; other; monthly account service fees for certain closed-end loans; allow for regulatory loan act licensees. Amends sec. 13 of 1939 PA 21 (MCL 493.13).