Michigan Department of Insurance and Financial Services issues FAQs for Consumer Finance Licensees and Registrants

State Issues Michigan Covid-19 Consumer Finance Financial Services Authority Examination

On March 27, the Michigan Department of Insurance and Financial Services (Department) issued FAQs for Consumer Finance Licensees and Registrants. The FAQs provide responses to questions regarding examinations, the Department’s reduction of services, scams, and working with consumers such as waiving or reducing late fees, offering payment accommodations, and adjusting or modifying terms on existing loans where possible.