MI HB5389

Replaces references to "commissioner" with "director" throughout Section 51 of the Deferred Presentment Service Transactions Act.

Requires the director to submit a report to the standing committees of the legislature concerned with banking and financial services within 90 days after the act's effective date (instead of by July 31, 2007).

Report must include the number of deferred presentment service providers on November 28, 2005, June 30, 2007, and the effective date of this amendatory act.

Report must contain general business information including the number of licensees, customers, transactions, transaction amounts, and other financial information requested by the legislature or deemed relevant by the director.

Report must document the number of complaints filed with the department against licensees from November 28, 2005, through the effective date of the amendatory act.