MN HF3706

Expands the definition of "financial institution" to include sales finance companies (chapter 53C), regulated lenders (chapter 56), and mortgage originators/servicers (chapter 58) for purposes of lending authority provisions.

Increases the minimum surety bond requirement for residential mortgage originator and servicer license applicants from $100,000 to $125,000.

Modifies virtual currency business licensing requirements by clarifying when licensees may exclude virtual currency from tangible net worth calculations, requiring matching assets and liabilities denominated in the same virtual currency.

Requires internet-based regulated lenders to clearly display their license number on webpages, and requires persons arranging consumer short-term loans under section 47.601 to obtain a license from the commissioner.

Repeals the $150 annual license fee for regulated lenders (section 56.08), accreditation requirements for debt management services providers (332A.02, subd. 2; 332A.04, subd. 1), and accreditation definitions for debt settlement services providers (332B.02, subd. 2).