MN SF2621

Caps annual percentage rate for consumer small loans at 30 percent and establishes fee schedules based on loan amount, with maximum single borrower outstanding balance of $350.

Prohibits consumer short-term loan contracts from including provisions selecting non-Minnesota law, choosing non-Minnesota forums, or limiting class actions for licensing or rate violations.

Establishes new communications fraud crime covering schemes to defraud via mail, phone, internet, or other communication methods, with penalties ranging from misdemeanor to felony based on victim count and value of money/property obtained.

Allows injured parties to pursue civil action for communications fraud seeking three times actual damages or $1,500 minimum, plus attorney fees and costs.

Prohibits property and casualty insurers from canceling or refusing to renew coverage based solely on claims arising from natural causes beyond the policyholder's control.