“Mich. Banking Brief: All The Notable Legal Updates In Q1”

Theodore Seitz, Joseph Hickey, and Amy Durant co-authored the Law360 Expert Analysis article, “Mich. Banking Brief: All The Notable Legal Updates In Q1.” The article outlines key legal and regulatory developments in Michigan’s banking and financial services sector during Q1 2026, highlighting a growing focus on modernization, consumer protection, and emerging technologies. A major development was the Michigan Department of Insurance and Financial Services issuing its first formal guidance on the use of artificial intelligence, emphasizing compliance, risk management, and bias mitigation.

Legislatively, Michigan is advancing bills to align with national standards for money transmission, aiming to streamline multistate regulation and improve consumer protections, while another bill seeks to modernize mortgage lending thresholds and remove in-state office requirements.