MI HB5568

Amends Michigan's 1966 interest rate law (PA 326) to exempt earned wage access services licensed under a new state act from interest rate regulations.

Adds earned wage access services to the list of exemptions alongside transactions regulated by the Public Service Commission, Department of Insurance and Financial Services, and time price differentials on credit sales.

Updates statutory language to reflect current department names, changing "securities bureau of the department of commerce" to "department of insurance and financial services."

This bill is contingent on the passage of HB 5558, which would establish the earned wage access services licensing framework.