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Michigan governor issues temporary order enabling remote notarization
On April 8, Michigan Governor Gretchen Whitmer issued an executive order enabling remote notarization in response to the Covid-19 crisis. Whitmer’s order allows for the use of electronic signatures, remote notarization, remote witnesses and attestations, and remote visitations in necessary transactions and interactions. The order took effect immediately and will be in place through May 6.
Michigan Department of Insurance and Financial Services defines certain operations as essential
On March 30, Michigan Department of Insurance and Financial Services Director Anita Fox issued a bulletin clarifying that certain financial services are considered essential businesses and operations. The following financial businesses are deemed essential: (i) banks, credit unions, and consumer finance providers, such as mortgage companies, consumer installment lenders, payday lenders, etc.; (ii) bond issuers; and (iii) title companies, inspectors, appraisers, surveyors, registers of deeds, and notaries. The bulletin clarified the scope of an executive order signed by Governor Whitmer on March 23, which in part, called for residents to stay in their homes and limited in-person exceptions to essential activities (previously discussed here).
Michigan Department of Insurance and Financial Services issues FAQs for Consumer Finance Licensees and Registrants
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.
Michigan Secretary of State issues FAQs on available services during Covid-19 crisis
On March 26, the Michigan Secretary of State (SoS) issued FAQs detailing what SoS services are available during the Covid-19 crisis and how to access them. The FAQs provide responses to questions regarding office closures, driver’s licenses, state identification cards, and vehicle registrations.
Michigan Governor issues "Stay Home, Stay Safe" executive order
On March 23, the Michigan Governor issued a state-wide order to temporarily suspend in-person operations that are “not necessary to sustain or protect life.” The order takes effect on March 24, 2020, at 12:01 AM, and continues through April 13, 2020, at 11:59 PM. Businesses and operations that employ critical infrastructure workers may continue in-person operations, subject to certain conditions. Critical infrastructure workers include those in financial services. Additionally, a business or operation that employs critical infrastructure workers may designate suppliers, distribution centers, or service providers whose continued operation is necessary to enable, support, or facilitate the work of its critical infrastructure workers.
Michigan Department of Insurance and Financial Services issues FAQs for credit unions
On March 24, the Michigan Department of Insurance and Financial Services issued FAQs for credit unions. The FAQs provide responses to questions regarding continuation of examinations, credit union operations and annual meetings, working with credit union members experiencing hardship due to Covid-19, and reporting requirements.
Michigan directs licensees to provide Covid-19 response summary by March 20
On March 18, the Michigan Department of Insurance and Financial Services circulated a notice to all Michigan consumer finance licensees and registrants requiring them to provide a summary of the actions that they have taken in response to the Covid-19 pandemic. The notice provides a series of questions for licensees and registrants to include in their summaries. The deadline for submitting the summary is 5:00 p.m. on March 20 (slightly more than 48 hours from the issuance of the notice). The summary must be submitted via email to DIFS-OCFInquiriesandInfo@michigan.gov.
However, we understand from DIFS personnel that an in-depth response is not expected, and that the agency is primarily concerned with understanding licensees’ and registrants’ plans so that they can better address related inquiries from consumers.
Michigan Supreme Court limits court activity
On March 18, the Michigan Supreme Court ordered all trial courts to limit access to courtrooms and other spaces to no more than 10 persons, including staff, to practice social distancing, and to limit court activity to only essential functions, enumerated in the order.
Michigan governor extends property tax redemption payments deadline
On March 18, Michigan Governor Gretchen Whitmer issued an executive order extending the deadline for redemption payments on foreclosed property as a result of delinquent property tax payments, in response to the inability of county treasurers to process redemption payments during the pandemic. Whitmer’s order extended the deadline from March 31 to May 29, or 30 days after the termination of the state of emergency.
Michigan Department of Insurance and Financial Services issues message to consumers addressing financial concerns
On March 17, Michigan Department of Insurance and Financial Services Director Anita Fox published a letter to consumers seeking to address financial concerns stemming from the Covid-19 crisis and emergency measures. In the letter, Fox assured consumers that Michigan’s financial institutions are well-positioned to sustain the impacts of the crisis, and reminded consumers that deposits in state’s banks and credit unions are federally insured. Fox also recommended that consumers take advantage of remote banking capabilities and contact their financial institution with any questions pertaining to in-person operations or concerns involving extensions of credit.