Michigan · 2025-2026 Regular Session · Bill

SB 701: Consumer credit: interest rates; maximum interest rate allowed for medical debt; modify. Amends sec. 3 of 1976 PA 331 (MCL 445.903). TIE BAR WITH: SB 0702'25

Passed one chamber Last action June 17, 2026: referred to second reading

Plain-language summary

SB 701 is a bill introduced in the Michigan Senate on November 6, 2025. According to its official title, it concerns: Consumer credit: interest rates; maximum interest rate allowed for medical debt; modify. Amends sec. 3 of 1976 PA 331 (MCL 445.903). TIE BAR WITH: SB 0702'25. Primary sponsor: Jonathan Lindsey (Republican). It lists 4 additional sponsors. Most recent recorded action (June 17, 2026): referred to second reading.

Sponsors

Primary sponsor: Jonathan Lindsey (Republican). 4 co-sponsors.