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MN HF3293
Bill
Status
5/5/2025
Primary Sponsor
Michael Howard
Click for details
AI Summary
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Establishes the Minnesota Consumer Financial Protection Bureau as a new state agency to enforce consumer financial laws and protect consumers in the financial marketplace
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Commissioner appointed by the governor with senate consent, with duties including identifying unfair/deceptive/abusive practices, enforcing anti-discrimination laws, investigating consumer complaints, enhancing financial education, and monitoring financial markets for consumer risks
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Grants the commissioner rulemaking authority under Chapter 14 and directs recruitment of investigators with federal CFPB experience in banking, student loans, mortgages, and auto lending
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Appropriates unspecified amounts from the general fund for fiscal years 2026 and 2027 for bureau operation and administration
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Amends existing statutes to add the bureau to lists of state agencies for purposes of tribal consultation requirements, agency head salary determination, and unclassified position designations
Legislative Description
Minnesota Consumer Financial Protection Bureau created, and money appropriated.
Last Action
Author added Gottfried
3/5/2026