Crimes: other; citations to the motor vehicle sales finance act in the Michigan penal code; revise. Amends secs. 219e & 219f of 1931 PA 328 (MCL 750.219e & 750.219f). TIE BAR WITH: SB 0739'25

SB 753 amends Michigan's penal code to prohibit preparing or submitting loan applications in another person's name without authorization, or possessing related instruments obtained through such violations. It creates felony penalties (up to 4 years in prison or $2,500 fines) for non-financial actors who commit these acts. The bill specifically exempts financial institutions (including those licensed under the Motor Vehicle Sales Finance Act) and their employees when acting within regulatory boundaries, such as reporting suspected fraud to authorities. These changes directly affect individuals committing loan application fraud while providing clear protections for regulated financial entities.