Michigan HB5239 prohibits savings banks from restricting services to agriculture producers based on environmental policies.

Michigan HB5239 amends the 1996 Michigan Financial Institutions Act to prohibit savings banks from denying, restricting, or canceling financial services to agriculture producers based on their environmental policies. A savings bank must prove by clear and convincing evidence that such actions were based solely on ordinary business purposes and not related to environmental, social, or political goals. Violations are subject to a civil fine of up to $10,000. The bill also establishes supervisory fees for savings banks and outlines the commissioner's duties regarding these fees.

Michigan HB5239 prohibits savings banks from restricting services to agriculture producers based on environmental policies.

Michigan HB5239 amends the 1996 Michigan Financial Institutions Act to prohibit savings banks from denying, restricting, or canceling financial services to agriculture producers based on their environmental policies. A savings bank must prove by clear and convincing evidence that such actions were based solely on ordinary business purposes and not related to environmental, social, or political goals. Violations are subject to a civil fine of up to $10,000. The bill also establishes supervisory fees for savings banks and outlines the commissioner's duties regarding these fees.