Financial institutions: other; consumer financial services act; revise internal references related to money transmission services. Amends secs. 2, 5, 6 & 10g of 1988 PA 161 (MCL 487.2052 et seq.).

This bill updates the Michigan Consumer Financial Services Act to revise internal references regarding money transmission services within the state's financial licensing laws. It directly affects financial institutions and businesses seeking licenses to operate in Michigan by clarifying how they must define and report their financial activities. The legislation amends specific sections of the act to ensure that terms like "financial licensing acts" and "money transmission" accurately reflect current laws, including the Money Transmission Modernization Act. By correcting these cross-references, the bill aims to maintain consistency and clarity in the regulations governing licensed money transmitters and other financial service providers.