{
 "jurisdiction_id": "US-MI",
 "jurisdiction": "United States – Michigan",
 "url": "https://payments.gi/jurisdictions/united-states-michigan/",
 "generator": "render_jid v13.3.0",
 "date_modified": "2026-08-11",
 "schema_version": "world-payments-v1",
 "counts": {
  "modules": 14,
  "sourced_findings": 61,
  "source_register": 0
 },
 "modules": [
  {
   "code": "W1a",
   "name": "Licensing, Authorisation & Market Access",
   "confidence": "Confirmed",
   "moved_this_cycle": false,
   "url": "https://payments.gi/jurisdictions/united-states-michigan/#w1a-licensing-authorisation-market-access",
   "standing_position": "Michigan regulates money transmission under the state Money Transmission Services Act (2006 PA 250, MCL 487.1001-487.1047), administered by DIFS via NMLS, with tiered net-worth and surety-bond requirements and annual Dec 31 renewal. A pending 'Money Transmission Modernization Act' bill package (HB 5544/5798, SB 0835, 2025-2026 session) would repeal PA 250 and replace it with the industry-standard MTMA; it remains in committee, not yet enacted.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "statute",
     "source": "https://www.legislature.mi.gov/documents/mcl/pdf/mcl-Act-250-of-2006.pdf",
     "source_url": null,
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "statute/regulator guidance",
     "source": "https://www.michigan.gov/difs/industry/licensing-cf/money-transmit",
     "source_url": null,
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "regulator guidance (DIFS FAQ)",
     "source": "https://origin-sl.michigan.gov/difs/0,5269,7-303-13648_60667_76248---,00.html",
     "source_url": null,
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "regulator guidance / exemptions",
     "source": "https://www.michigan.gov/difs/news-and-outreach/faq/consumer-finance/money-transmission",
     "source_url": null,
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "pending bill (CAUTION: not enacted)",
     "source": "https://legislature.mi.gov/documents/2023-2024/billintroduced/House/htm/2024-HIB-5798.htm",
     "source_url": null,
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "pending bill (CAUTION: not enacted)",
     "source": "https://legiscan.com/MI/text/SB0835/id/3396679",
     "source_url": null,
     "source_tier": "2",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "commentary",
     "source": "https://fraxtional.co/feeds/blog/mi-money-transmitter-license",
     "source_url": null,
     "source_tier": "3",
     "retrieved_at": null
    }
   ]
  },
  {
   "code": "W1b",
   "name": "Conduct, Safeguarding & Financial Promotions",
   "confidence": "High",
   "moved_this_cycle": false,
   "url": "https://payments.gi/jurisdictions/united-states-michigan/#w1b-conduct-safeguarding-financial-promotions",
   "standing_position": "Safeguarding rests on a permissible-investments requirement backed by surety bond, with DIFS examination/confidentiality powers under Section 26. The pending MTMA bill would introduce a statutory trust mechanism over permissible investments for customer benefit in insolvency, a stronger safeguarding model than current law but not yet in force.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "statute (confidentiality/examination)",
     "source": "https://www.michigan.gov/difs/news-and-outreach/faq/consumer-finance/money-transmission",
     "source_url": null,
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "regulator order (permissible investments)",
     "source": "https://www.michigan.gov/difs/news-and-outreach/faq/consumer-finance/money-transmission",
     "source_url": null,
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "pending bill (CAUTION: not enacted) - statutory trust",
     "source": "https://legislature.mi.gov/documents/2023-2024/billintroduced/House/htm/2024-HIB-5798.htm",
     "source_url": null,
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "regulator notification form/guidance",
     "source": "https://www.michigan.gov/difs/industry/industry-news/cybersecurity-event-and-attestation-update-notification",
     "source_url": null,
     "source_tier": "1",
     "retrieved_at": null
    }
   ]
  },
  {
   "code": "W2",
   "name": "Stablecoins & Digital Money",
   "confidence": "High",
   "moved_this_cycle": false,
   "url": "https://payments.gi/jurisdictions/united-states-michigan/#w2-stablecoins-digital-money",
   "standing_position": "Michigan has no dedicated state-level stablecoin issuance statute; the operative framework is the federal GENIUS Act (signed 2025-07-18), being implemented through OCC, FDIC and joint FinCEN/OFAC rulemakings during 2026, applicable nationwide including to Michigan state-chartered banks.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "federal statute",
     "source": "https://www.kslaw.com/news-and-insights/stablecoin-legislation-has-left-the-stable",
     "source_url": null,
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "federal proposed rule (OCC)",
     "source": "https://www.federalregister.gov/documents/2026/03/02/2026-04089/implementing-the-guiding-and-establishing-national-innovation-for-us-stablecoins-act-for-the",
     "source_url": null,
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "federal proposed rule (FDIC)",
     "source": "https://www.federalregister.gov/documents/2025/12/19/2025-23510/approval-requirements-for-issuance-of-payment-stablecoins-by-subsidiaries-of-fdic-supervised-insured",
     "source_url": null,
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "federal proposed rule (FinCEN/OFAC)",
     "source": "https://www.federalregister.gov/documents/2026/04/10/2026-06963/permitted-payment-stablecoin-issuer-anti-money-launderingcountering-the-financing-of-terrorism",
     "source_url": null,
     "source_tier": "1",
     "retrieved_at": null
    }
   ]
  },
  {
   "code": "W3",
   "name": "Operational Resilience & Critical Infrastructure",
   "confidence": "High",
   "moved_this_cycle": false,
   "url": "https://payments.gi/jurisdictions/united-states-michigan/#w3-operational-resilience-critical-infrastructure",
   "standing_position": "Michigan's operational-resilience layer combines MCL 445.72 breach notification, DIFS cybersecurity event notification (Form FIS 2359), and PA 690 of 2018 for insurance licensees. A five-bill reform package (SB 360-364), passed by the Senate August 2025, would tighten the breach standard to a firm 45-day deadline with new civil penalties; pending in the House as of March 2026.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "statute",
     "source": "https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-445-72",
     "source_url": null,
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "regulator guidance / notification form",
     "source": "https://www.michigan.gov/difs/industry/industry-news/cybersecurity-event-and-attestation-update-notification",
     "source_url": null,
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "pending bill (CAUTION: not enacted)",
     "source": "https://www.recordinglaw.com/us-laws/data-privacy-laws/michigan-data-privacy-laws/data-breach-notification/",
     "source_url": null,
     "source_tier": "3",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "safe-harbor provision",
     "source": "https://www.perkinscoie.com/en/news-insights/security-breach-notification-chart-michigan.html",
     "source_url": null,
     "source_tier": "3",
     "retrieved_at": null
    }
   ]
  },
  {
   "code": "W4",
   "name": "Scheme & Network Compliance",
   "confidence": "High",
   "moved_this_cycle": false,
   "url": "https://payments.gi/jurisdictions/united-states-michigan/#w4-scheme-network-compliance",
   "standing_position": "Michigan permits credit-card surcharging (since a 2013 settlement lifted the Visa/Mastercard ban) but imposes state-specific disclosure duties, prohibits debit surcharging, and treats surcharge fees as part of the taxable sales price under the General Sales Tax Act per 2024 Treasury guidance.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "regulator guidance",
     "source": "https://www.michigan.gov/consumerprotection/protect-yourself/consumer-alerts/shopping/credit-debit-card-surcharges",
     "source_url": null,
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "statute",
     "source": "https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-act-379-of-1984",
     "source_url": null,
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "regulator guidance (Treasury)",
     "source": "https://www.nfib.com/news/news/mi-department-of-treasury-to-small-business-credit-card-surcharge-fees-subject-to-sales-tax/",
     "source_url": null,
     "source_tier": "2",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "commentary",
     "source": "https://www.getnickel.com/surcharge-laws/michigan",
     "source_url": null,
     "source_tier": "3",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "sector-specific rule (fuel retail)",
     "source": "https://merchantcostconsulting.com/lower-credit-card-processing-fees/michigan-credit-card-surcharge-laws/",
     "source_url": null,
     "source_tier": "3",
     "retrieved_at": null
    }
   ]
  },
  {
   "code": "W5",
   "name": "Payment Corridor Dynamics",
   "confidence": "Assessed",
   "moved_this_cycle": false,
   "url": "https://payments.gi/jurisdictions/united-states-michigan/#w5-payment-corridor-dynamics",
   "standing_position": "Michigan financial institutions participate in the national FedNow rail; MSUFCU is a documented Michigan participant operating receive-only with planned send-side expansion, reflecting national credit-union-led gradual FedNow adoption rather than Michigan-specific corridor infrastructure.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "instant payments participation",
     "source": "https://www.frbservices.org/financial-services/fednow/industry-stories/real-talk/msu-federal-credit-union",
     "source_url": null,
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "national rail update",
     "source": "https://www.frbservices.org/news/fed360/issues/121625/general-2026-fees-payment-system-enhancements",
     "source_url": null,
     "source_tier": "1",
     "retrieved_at": null
    }
   ]
  },
  {
   "code": "W6",
   "name": "Industry Structure & Commercial Dynamics",
   "confidence": "High",
   "moved_this_cycle": false,
   "url": "https://payments.gi/jurisdictions/united-states-michigan/#w6-industry-structure-commercial-dynamics",
   "standing_position": "Michigan's payments-adjacent industry structure is being reshaped by Fifth Third's $10.9-12.7bn acquisition of Comerica, alongside a growing Detroit/Ann Arbor fintech and credit-union-fintech-partnership ecosystem (Rocket Companies, Bankjoy, InvestNext, Autobooks, MSUFCU-Zirtue).",
   "findings": [
    {
     "finding": null,
     "instrument_type": "market structure event",
     "source": "https://www.detroitnews.com/story/business/2026/06/01/fifth-third-comerica-bank-branch-closures-michigan/90360145007/",
     "source_url": null,
     "source_tier": "2",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "market structure event",
     "source": "https://www.detroitnews.com/story/business/2025/10/06/fifth-third-bancorp-buy-comerica-10-9-billion-tie-up-big-regional-banks/86545764007/",
     "source_url": null,
     "source_tier": "2",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "fintech-credit union partnership",
     "source": "https://www.americanbanker.com/creditunions/news/michigan-credit-union-helps-members-borrow-from-friends-and-family",
     "source_url": null,
     "source_tier": "2",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "industry structure (fintech sector)",
     "source": "https://www.purpose.jobs/blog/top-tech-companies-in-michigan-2026",
     "source_url": null,
     "source_tier": "3",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "industry directory",
     "source": "https://builtin.com/companies/location/na/usa/mi/type/fintech-companies",
     "source_url": null,
     "source_tier": "3",
     "retrieved_at": null
    }
   ]
  },
  {
   "code": "W7",
   "name": "Legal & Litigation",
   "confidence": "Confirmed",
   "moved_this_cycle": false,
   "url": "https://payments.gi/jurisdictions/united-states-michigan/#w7-legal-litigation",
   "standing_position": "Michigan is at the center of the national prediction-markets legal battle: the AG sued Kalshi (March 2026) alleging unlicensed sports betting, while Polymarket, Robinhood, and Coinbase filed federal preemption suits. A federal judge denied Polymarket's and Robinhood's preliminary-injunction motions on June 17, 2026, leaving Michigan free to pursue enforcement.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "litigation",
     "source": "https://michigangaming.com/michigans-fight-over-prediction-markets/",
     "source_url": null,
     "source_tier": "2",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "litigation",
     "source": "https://www.gamblinginsider.com/news/115936/michigan-kalshi-lawsuit-polymarket-robinhood-prediction-markets",
     "source_url": null,
     "source_tier": "2",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "court ruling",
     "source": "https://www.gamblinginsider.com/news/167546/michigan-judge-denies-polymarket-robinhood-injunctions",
     "source_url": null,
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "court ruling (secondary summary)",
     "source": "https://www.playmichigan.com/news/federal-judge-denies-polymarket-bid-to-block-michigan-enforcement/",
     "source_url": null,
     "source_tier": "3",
     "retrieved_at": null
    }
   ]
  },
  {
   "code": "W8",
   "name": "Merchant Acquiring & Risk",
   "confidence": "Assessed",
   "moved_this_cycle": false,
   "url": "https://payments.gi/jurisdictions/united-states-michigan/#w8-merchant-acquiring-risk",
   "standing_position": "Michigan's merchant-acquiring risk framework is defined largely by consumer-facing surcharge disclosure rules rather than a distinct acquiring-license regime; merchants operate under the general bank-sponsorship/card-network model, with MI-specific obligations concentrated in surcharge signage/receipt/online disclosure.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "merchant risk/onboarding disclosure rules",
     "source": "https://www.getnickel.com/surcharge-laws/michigan",
     "source_url": null,
     "source_tier": "3",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "legislative history",
     "source": "https://www.legislature.mi.gov/documents/2013-2014/billanalysis/House/archive/2013-HLA-4255-74A48DFB.HTM",
     "source_url": null,
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "acquiring/sponsor-bank model",
     "source": "https://www.lithic.com/blog/bank-partners",
     "source_url": null,
     "source_tier": "3",
     "retrieved_at": null
    }
   ]
  },
  {
   "code": "W9",
   "name": "Product Innovation & Market Development",
   "confidence": "High",
   "moved_this_cycle": false,
   "url": "https://payments.gi/jurisdictions/united-states-michigan/#w9-product-innovation-market-development",
   "standing_position": "Michigan's product-innovation layer is anchored in Detroit's growing embedded-fintech and credit-union-fintech ecosystem (Autobooks, InvestNext, Bankjoy, MSUFCU FedNow/Zirtue), supported by public seed-stage capital via the City of Detroit's Startup Fund.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "instant payments product rollout",
     "source": "https://www.frbservices.org/financial-services/fednow/industry-stories/real-talk/msu-federal-credit-union",
     "source_url": null,
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "public seed funding program",
     "source": "https://detroitmi.gov/news/detroit-launches-first-its-kind-700000-startup-fund-fuel-job-creation-and-talent-retention",
     "source_url": null,
     "source_tier": "2",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "product/company",
     "source": "https://www.crainsdetroit.com/entrepreneurship/detroits-municipal-startup-fund-awards-its-first-300000",
     "source_url": null,
     "source_tier": "2",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "product/company",
     "source": "https://www.purpose.jobs/blog/top-tech-companies-in-michigan-2026",
     "source_url": null,
     "source_tier": "3",
     "retrieved_at": null
    }
   ]
  },
  {
   "code": "W10",
   "name": "Consumer Protection & APP Fraud",
   "confidence": "High",
   "moved_this_cycle": false,
   "url": "https://payments.gi/jurisdictions/united-states-michigan/#w10-consumer-protection-app-fraud",
   "standing_position": "Michigan consumer protection for payments harms runs through the AG's Consumer Protection Team and DIFS, with active AG alerts targeting P2P payment-app scams and AI voice-cloning fraud; there is no dedicated state APP-fraud reimbursement mandate.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "regulator consumer guidance",
     "source": "https://www.michigan.gov/consumerprotection/protect-yourself/consumer-alerts/scams/payment-apps-and-scams",
     "source_url": null,
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "regulator enforcement/consumer alert",
     "source": "https://www.michigan.gov/ag/news/press-releases/2026/04/20/ag-nessel-reissues-ai-scams-consumer-alert-during-money-smart-week",
     "source_url": null,
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "regulator consumer guidance",
     "source": "https://www.michigan.gov/ag/news/press-releases/2024/12/23/ag-nessel-warns-consumers-about-holiday-payment-apps-and-scams",
     "source_url": null,
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "statute/regulator function",
     "source": "https://www.michigan.gov/ag/consumer-protection",
     "source_url": null,
     "source_tier": "1",
     "retrieved_at": null
    }
   ]
  },
  {
   "code": "W11",
   "name": "AML/CFT & Financial Crime",
   "confidence": "Assessed",
   "moved_this_cycle": false,
   "url": "https://payments.gi/jurisdictions/united-states-michigan/#w11-aml-cft-financial-crime",
   "standing_position": "W11 carries the Sentinel.gi feed only; no jurisdiction-specific Sentinel.gi content for US-MI was retrievable this cycle. Standing federal BSA framework layers onto MTSA licensees; no original illicit-finance analysis performed (FIM territory).",
   "findings": [
    {
     "finding": null,
     "instrument_type": "statute (definitional cross-reference)",
     "source": "https://www.legislature.mi.gov/documents/2023-2024/billintroduced/House/htm/2024-HIB-5798.htm",
     "source_url": null,
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": "Michigan operates entirely within the federal BSA/AML, OFAC-sanctions and FinCEN CTA architecture; the state layer consists of Department of Licensing and Regulatory Affairs (LARA) corporate formation (no beneficial-ownership verification), DIFS licensing of money transmitters under the Uniform Money Services Act, and Attorney General consumer-protection alerts on crypto fraud. No independent state FIU exists; Michigan financial institutions rely wholly on federal supervisory and enforcement infrastructure.",
     "instrument_type": "assessment",
     "source": "FIM (sentinel.gi) per-JID baseline profile — United States — Michigan",
     "source_url": null,
     "source_tier": null,
     "retrieved_at": null
    },
    {
     "finding": "Gap: sourcing-thinness",
     "instrument_type": "gap",
     "source": "FIM (sentinel.gi) gaps_register_cumulative (issue FIM-BASE-GAP-003)",
     "source_url": null,
     "source_tier": null,
     "retrieved_at": null
    },
    {
     "finding": "Sanctions: OFAC licence-change",
     "instrument_type": "sanctions_change",
     "source": "FIM (sentinel.gi) sanctions_change_register (issue FIM-BASE-SANC-003)",
     "source_url": null,
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": "Enforcement: FinCEN — Financial institutions nationwide, including Michigan-based banks and MSBs",
     "instrument_type": "enforcement_action",
     "source": "FIM (sentinel.gi) enforcement_action_register (issue FIM-BASE-ENF-003)",
     "source_url": null,
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": "Gap: regulatory-failure",
     "instrument_type": "gap",
     "source": "FIM (sentinel.gi) gaps_register_cumulative (issue FIM-BASE-GAP-002)",
     "source_url": null,
     "source_tier": null,
     "retrieved_at": null
    },
    {
     "finding": "Gap: legal-gap",
     "instrument_type": "gap",
     "source": "FIM (sentinel.gi) gaps_register_cumulative (issue FIM-BASE-GAP-001)",
     "source_url": null,
     "source_tier": null,
     "retrieved_at": null
    }
   ]
  },
  {
   "code": "W12",
   "name": "Correspondent Banking, Settlement & Access",
   "confidence": "Possible",
   "moved_this_cycle": false,
   "url": "https://payments.gi/jurisdictions/united-states-michigan/#w12-correspondent-banking-settlement-access",
   "standing_position": "No Michigan-specific correspondent-banking de-risking event or settlement-access initiative identified; Michigan institutions subject to the same national de-risking pressures, mitigated partly by scale gains from Fifth Third-Comerica.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "policy background (national)",
     "source": "https://www.congress.gov/crs-product/IF10873",
     "source_url": null,
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "market structure / settlement scale",
     "source": "https://www.detroitnews.com/story/business/2025/10/06/fifth-third-bancorp-buy-comerica-10-9-billion-tie-up-big-regional-banks/86545764007/",
     "source_url": null,
     "source_tier": "2",
     "retrieved_at": null
    }
   ]
  },
  {
   "code": "W13",
   "name": "Commercial Intelligence & Fintech",
   "confidence": "High",
   "moved_this_cycle": false,
   "url": "https://payments.gi/jurisdictions/united-states-michigan/#w13-commercial-intelligence-fintech",
   "standing_position": "Trailing 12 months (Jul 2025-Jul 2026) saw major MI-linked M&A: Fifth Third-Comerica, Acrisure-Heartland Payroll Solutions, Rocket Companies-Redfin/Mr. Cooper, and Supreme Lending-Michigan Mutual, alongside continued Detroit fintech seed activity.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "commercial_event (M&A)",
     "source": "https://www.detroitnews.com/story/business/2025/10/06/fifth-third-bancorp-buy-comerica-10-9-billion-tie-up-big-regional-banks/86545764007/",
     "source_url": null,
     "source_tier": "2",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "commercial_event (M&A)",
     "source": "https://www.crainsdetroit.com/mergers-acquisitions/these-were-largest-michigan-ma-deals-2025",
     "source_url": null,
     "source_tier": "2",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "commercial_event (M&A)",
     "source": "https://ir.rocketcompanies.com/news-and-events/press-releases/press-release-details/2025/Rocket-Companies-Closes-14-2-Billion-Acquisition-of-Mr--Cooper/default.aspx",
     "source_url": null,
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "commercial_event (product/integration)",
     "source": "https://www.detroitnews.com/story/business/2026/03/20/rocket-companies-offers-buyouts-as-it-integrates-redfin-and-mr-cooper/89243158007/",
     "source_url": null,
     "source_tier": "2",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "commercial_event (M&A, undisclosed value)",
     "source": "https://www.housingwire.com/articles/supreme-lending-to-acquire-michigan-mutual-sources/",
     "source_url": null,
     "source_tier": "3",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "commercial_event (seed investment)",
     "source": "https://www.ellty.com/blog/detroit-investors",
     "source_url": null,
     "source_tier": "3",
     "retrieved_at": null
    }
   ]
  }
 ]
}