Financial institutions: other; consumer financial services act; revise internal references related to money transmission services. Amends sec. 2 of 1988 PA 161 (MCL 487.2052). TIE BAR WITH: HB 5544'26

This bill amends the Consumer Financial Services Act to update definitions related to financial licensing. It changes the name of the "bureau" from the office of financial and insurance services to the department of insurance and financial services, and updates the definition of "financial licensing acts" to include the money transmission modernization act and remove the money transmission services act. The bill also clarifies the definition of "loan servicing activities" and adds a definition for "money transmission."

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