Minnesota HF4188 modifies consumer protections for insurance and financial products, prohibits virtual-currency kiosks, adds student loan borrower.

Minnesota HF4188 amends various consumer protection laws, including those related to insurance and financial products. It prohibits the installation, operation, or maintenance of virtual-currency kiosks starting January 1, 2027. The bill adds protections for student loan borrowers, such as requiring student loan servicers to notify borrowers of changes in servicing and to maintain detailed records. It also establishes standards for mortgage loan servicing, including requirements for servicers to respond to borrower inquiries, correct errors, and provide loss mitigation options.

Minnesota HF4188 modifies consumer protections for insurance and financial products, prohibits virtual-currency kiosks, adds student loan borrower.

Minnesota HF4188 amends various consumer protection laws, including those related to insurance and financial products. It prohibits the installation, operation, or maintenance of virtual-currency kiosks starting January 1, 2027. The bill adds protections for student loan borrowers, such as requiring student loan servicers to notify borrowers of changes in servicing and to maintain detailed records. It also establishes standards for mortgage loan servicing, including requirements for servicers to respond to borrower inquiries, correct errors, and provide loss mitigation options.