MI SB0415

Amends the title of 1984 PA 379 to replace references to "financial institutions bureau" with "certain state officers and entities" and clarifies the act provides remedies and penalties.

Redefines "Commissioner" to mean the director of the department of insurance and financial services or authorized representative.

Defines "credit card arrangement" as an unsecured loan for personal, family, or household purposes made to an individual cardholder requiring use of a credit card or charge card to access proceeds.

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

Defines key terms including "licensee," "person," and references the federal Truth in Lending Act (15 USC 1601 to 1667f) as applicable law.