MI HB5239

Prohibits savings banks from denying, restricting, or canceling financial services to agriculture producers based on greenhouse gas emissions, use of fossil fuel-derived fertilizer, or use of fossil fuel-powered machinery

Creates a presumption that any denial, restriction, or cancellation of services to an agriculture producer violates the law if the savings bank has made environmental, social, and governance (ESG) commitments

Allows savings banks to rebut the presumption with clear and convincing evidence that the decision was based solely on a documented ordinary business purpose unrelated to ESG goals

Establishes civil fines of up to $10,000 for savings banks that violate the prohibition

Updates supervisory fee provisions to clarify that fees, penalties, and fines collected under the act must be credited to the bureau and used only for its operation