Various consumer protections for insurance and financial products modified, virtual-currency kiosks prohibited, student loan borrower protections added, mortgage loan servicing standards provided, commissioner of commerce notices required, and mortgage protections provided.
Summary
This Minnesota bill modifies consumer protections related to insurance and financial products while establishing new restrictions and safeguards in several areas. It prohibits virtual-currency kiosks, adds protections for student loan borrowers, and sets standards for mortgage loan servicing. The bill also requires the commissioner of commerce to issue notices and implements additional mortgage protections to help consumers in these financial sectors.
Sponsor
Last action
Senate conferees Klein; Seeberger; Frentz; Duckworth
May 7, 2026
Topics
Legislative history
Senate accedes, conference committee of 4 be appointed
Senate conferees Klein, Seeberger, Frentz, and Duckworth
House not concur, conference committee requested
House conferees Koegel; Elkins; O'Driscoll; Perryman
Senate accedes, CC be appointed
Senate conferees Klein; Seeberger; Frentz; Duckworth
Returned from Senate with amendment
House refuses to concur, conference committee of 4 requested
House conferees Koegel, Elkins, O'Driscoll, and Perryman
Special Order: Amended
Third reading Passed as amended
Comm report: Rule 45-amend, subst. General Orders SF4365
Second reading
Received from House
Introduction and first reading
Referred to Rules and Administration for comparison to SF4365
Amended
Third reading as amended
Bill was passed as amended
House rule 1.21, placed on Calendar for the Day 04/23/2026
Committee report, to adopt as amended
Second reading
Introduction and first reading, referred to Commerce Finance and Policy