Michigan · 2025-2026 Regular Session · Bill

HB 5552: Consumer credit: interest rates; prepayment penalties on certain mortgage loans made for business purposes; allow. Amends sec. 1c of 1966 PA 326 (MCL 438.31c).

Passed one chamber Last action June 2, 2026: REFERRED TO COMMITTEE ON FINANCE, INSURANCE, AND CONSUMER PROTECTION

Plain-language summary

HB 5552 is a bill introduced in the Michigan House on February 19, 2026. According to its official title, it concerns: Consumer credit: interest rates; prepayment penalties on certain mortgage loans made for business purposes; allow. Amends sec. 1c of 1966 PA 326 (MCL 438.31c). Primary sponsor: Mark Tisdel (Republican). It lists 3 additional sponsors. Most recent recorded action (June 2, 2026): REFERRED TO COMMITTEE ON FINANCE, INSURANCE, AND CONSUMER PROTECTION.

Sponsors

Primary sponsor: Mark Tisdel (Republican). 3 co-sponsors.