HB 5783 Michigan House · 2025-2026 Regular Session

Financial institutions: credit unions; certain communication with a qualified private insurance organization; allow. Amends sec. 207 of 2003 PA 215 (MCL 490.207). TIE BAR WITH: HB 5779'26, HB 5780'26, HB 5781'26, HB 5782'26

This bill amends the Michigan Credit Union Act to allow the state director of credit unions to share confidential examination reports with qualified private insurance organizations that insure credit union shares. The change permits the director to provide sensitive documents to these insurers if the documents relate to a credit union whose shares are primarily insured by them, provided the insurer agrees to keep the information confidential and privileged. While the bill maintains strict protections against public disclosure and legal discovery for these documents, it creates a specific exception for sharing data with private insurers to assist in their regulatory oversight. This provision is part of a larger legislative package aimed at streamlining communication between state regulators and various financial oversight bodies.

Bill status passed both 4 of 5 stages cleared

Introduction

Apr 2026

Committee Review

Jun 2026

House Passage

Jun 2026

Senate Passage

Jun 2026

Governor

Introduced Apr 14, 2026 Last action Jun 23, 2026

Maddy AI version diff · 1 comparison

What changed between versions

House Introduced Bill → As Passed by the House · 5 edits · Jun 17, 2026

MODERATE

This bill updates the Michigan Credit Union Act to modernize examination requirements, expanding the director's authority to examine affiliates and foreign branches. It clarifies the confidentiality of examination records while allowing specific sharing with law enforcement and insurance organizations, and establishes a formal process for handling requests to disclose confidential documents in court.

Scope change

The bill expands the scope of examinations to include affiliates of credit unions and branches of foreign credit unions located in Michigan, and adds new procedures for sharing information with other regulatory bodies.

REQUIREMENT

Examinations must now occur at least once every 18 months, and the director is authorized to examine affiliates and foreign branches to fully understand relationships and risks.

The director must issue guidance within one year to standardize the examination process and ensure due process for credit unions.

ENFORCEMENT

New subsections define the strict confidentiality of examination documents, prohibiting their use in private civil actions and establishing a specific process for the director to intervene in court orders seeking disclosure.

The director is granted authority to share confidential examination data with federal/international regulators, law enforcement, and qualified private insurance organizations, provided the recipients agree to maintain confidentiality.

TECHNICAL

The bill text was restructured from a draft introduction format into the final enacted legislative language, including the addition of conditions for the bill's effective date.

Floor votes · House Jun 17, 2026

How they voted

This bill passed the Senate by voice vote (no roll call recorded).

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Jun 23, 2026

Committee

REFERRED TO COMMITTEE ON FINANCE, INSURANCE, AND CONSUMER PROTECTION

upper

Jun 23, 2026

Upper · Passed

PASSED BY HOUSE WITH IMMEDIATE EFFECT

upper

Jun 17, 2026

Lower · Passed

passed; given immediate effect Roll Call #223 Yeas 107 Nays 0 Excused 0 Not Voting 3

lower

Jun 11, 2026

Committee

referred to second reading

lower

Jun 11, 2026

Lower · Passed

reported with recommendation without amendment

lower

May 20, 2026

Lower · Passed

recommendation concurred in

lower

May 20, 2026

Lower · Passed

reported with recommendation for referral to Committee on Rules

lower

Apr 14, 2026

Committee

referred to Committee on Insurance

lower

Apr 14, 2026

Introduced

introduced by Representative Rep. Brenda Carter

lower

1 primary · 6 co-sponsors