MI SB0728

Amends the title of the 1984 Credit Card Act to replace references to "financial institutions bureau" with "certain state officers and entities" and adds language about remedies and penalties.

Redefines "commissioner" to mean the director of the department of insurance and financial services or authorized representative, replacing prior terminology.

Adds definitions for "licensee" (person licensed under the act), "person" (individual, corporation, LLC, partnership, association, or other legal entity), and "credit card arrangement" (unsecured loan for personal/family/household purposes requiring use of a credit card to access proceeds).

Defines "credit card" or "charge card" as any card or device issued by a licensee under a credit card arrangement that allows cardholders to obtain credit for purchases, leases, loans, or other purposes.

Takes effect 90 days after enactment, with the amended definition of "credit card arrangement" applying retroactively to December 28, 1984.