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MN HF3293

Bill

Status

Introduced

5/5/2025

Primary Sponsor

Michael Howard

Click for details

Origin

House of Representatives

94th Legislature 2025-2026

AI Summary

  • Establishes the Minnesota Consumer Financial Protection Bureau as a new state agency to enforce consumer financial laws and protect consumers in the financial marketplace

  • 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

  • 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

  • Appropriates unspecified amounts from the general fund for fiscal years 2026 and 2027 for bureau operation and administration

  • 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

Committee Referrals

Commerce Finance & Policy5/5/2025

Full Bill Text

No bill text available