Consumer protection: identity theft; citations to the motor vehicle sales finance act in the identity theft protection act; revise. Amends sec. 3 of 2004 PA 452 (MCL 445.63). TIE BAR WITH: HB 5354'23

HB 5359 amends the Michigan Identity Theft Protection Act to revise the definitions of key terms used throughout the law. The bill explicitly adds the Motor Vehicle Sales Finance Act to the list of regulations that qualify an entity as a "financial institution" under the act. This change ensures that lenders and finance companies operating under that specific statute are subject to the same identity theft protections and requirements as other banks and credit unions. By updating these definitions, the legislation clarifies which organizations must comply with the state's identity theft reporting and security standards.