Michigan · 2025-2026 Regular Session · Bill

SB 835: Financial institutions: money transmitters; money transmission modernization act; create. Creates new act & repeals 2006 PA 250 (MCL 487.1001 - 487.1047).

In committee Last action March 17, 2026: REFERRED TO COMMITTEE ON FINANCE, INSURANCE, AND CONSUMER PROTECTION

Plain-language summary

SB 835 is a bill introduced in the Michigan Senate on March 17, 2026. According to its official title, it concerns: Financial institutions: money transmitters; money transmission modernization act; create. Creates new act & repeals 2006 PA 250 (MCL 487.1001 - 487.1047). Primary sponsor: Rosemary Bayer (Democratic). It lists 4 additional sponsors. Most recent recorded action (March 17, 2026): REFERRED TO COMMITTEE ON FINANCE, INSURANCE, AND CONSUMER PROTECTION.

Sponsors

Primary sponsor: Rosemary Bayer (Democratic). 4 co-sponsors.