Consolidates licensing statutes for mortgage brokers and lenders in Michigan.
This bill consolidates certain licensing statutes related to residential mortgages in Michigan. It amends the identity theft protection act and makes conforming changes. The bill includes definitions for terms such as "agency," "breach of the security of a database," "identity theft," and "personal information." It specifies that a breach does not include unauthorized access by an employee if the access was in good faith and related to agency activities. The bill also outlines what constitutes personal information and personal identifying information.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.