Summary

Sponsor:Sanborn
Topic:Home Solicitations

Public Act 126 of 1998 amended the Home Solicitation Act to include sales arising from a postcard or other written notice sent to a consumer's home inviting the consumer to call regarding a good or service. Financial institutions are concerned that the bill unintentionally includes loan-related mailings to the consumer's home. For instance, the quarterly bank statement may include a note for the consumer to "call for our latest auto loan rates".

The bill continues to include postcards sent to the consumer's home in the act, but rewrites this provision as a definition of "written solicitation". There is a new exemption for sales "made at a fixed location of a business establishment where goods or services are offered or exhibited for sale." The bill further defines goods and services as not including loans, deposit accounts or trust accounts offered by a federal depository institution or an affiliate and an extension of credit under one of Michigan's financial institution laws.

The House made one amendment to the bill exempting an insurance solicitation, as well as a sale, from the act.

The bill is scheduled to be considered in the Senate Economic Development, International Trade and Regulatory Affairs Committee on April 13.