MichiganCredit unions would report longer closures within two business days
Domestic credit unions would notify the state regulator when an emergency or approved special-observance closure is expected to last more than two consecutive business days.
What it does
Covered credit unions would notify the state regulator within two business days of an emergency or approved special-observance closure expected to last more than two consecutive business days.
Argument forPrompt notice of longer closures could help the state regulator track disruptions that affect credit union members.
Argument againstThe reporting threshold could leave shorter closures unreported under this rule, even when members lose access to a branch.
More detail
Covered credit unions would notify the state regulator about closures expected to last more than two consecutive business days. The rule covers domestic credit unions closing their main office or branches under this section’s emergency or approved special-observance rules. Other government bodies would receive notice when another law requires it. Notice to the state regulator would be due no later than two business days after the closure.
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Where it stands
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Oct 27REFERRED TO COMMITTEE OF THE WHOLE WITH SUBSTITUTE (S-1)Latest
- Oct 27REPORTED FAVORABLY WITH SUBSTITUTE (S-1) 10/14/2026Minor
- Jun 10REFERRED TO COMMITTEE ON FINANCE, INSURANCE, AND CONSUMER PROTECTIONMinor
- Jun 10INTRODUCED BY SENATOR KEVIN DALEYIntroduced
Consumer Protection