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MN HF2564
Bill
Status
3/20/2025
Primary Sponsor
Leigh Finke
Click for details
AI Summary
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Sellers and lenders must suspend recurring billing requirements for crime victims whose cell phones, vehicles, or other financed property has been seized by law enforcement as evidence
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Victims must provide documentation from law enforcement verifying the property was seized and is in police custody to qualify for payment suspension
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Billing may only resume once the seized property has been returned to the victim
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Sellers and lenders are prohibited from reporting missed payments to collection agencies for the duration that property remains seized by law enforcement
Legislative Description
Lenders required to pause monthly payments on seized property, and lenders prohibited from reporting failure to make monthly payments on seized property.
Last Action
Introduction and first reading, referred to Commerce Finance and Policy
3/20/2025