MI SB1290

Amends the Consumer Financial Services Act to prohibit licensees from engaging in the business of a debt-management services provider registered under the uniform debt-management services act.

Prohibits licensees from entering into tying arrangements that condition the sale of one financial service on a consumer's agreement to purchase one or more other financial services from the licensee, its affiliates, or subsidiaries.

Prohibits licensees from knowingly permitting a person to violate an order issued under the Consumer Financial Services Act or other financial licensing acts that prohibits that person from being employed by or being a control person of the licensee.

Takes effect 12 months after enactment into law, contingent upon Senate Bill No. 1288 of the 95th Legislature being enacted into law.