Financial institutions: mortgage brokers and lenders; consolidation of certain licensing statutes related to residential mortgages; make conforming changes in the identity theft protection act. Amends sec. 3 of 2004 PA 452 (MCL 445.63). TIE BAR WITH: HB 6177'26

HB 6187 amends Michigan's Identity Theft Protection Act to update and clarify the definitions of key terms used throughout the law. The bill specifically revises how the statute defines "financial institutions" to ensure consistency with other state licensing laws and explicitly includes mortgage brokers and lenders under its protections. Additionally, it clarifies what constitutes a "security breach" by specifying that accidental access by employees acting in good faith does not count as a breach, and it expands the definition of "child or spousal support" to include various expenses like medical care and education. These changes aim to provide clearer guidance for businesses and individuals regarding data privacy and identity theft reporting requirements.