MN SF4365

Virtual-currency kiosks prohibited beginning January 1, 2027, with operators required to remove all publicly accessible kiosks by December 31, 2026 and issue customer refunds; $1,000 per day civil penalty for violations

Residential mortgage loan servicers must comply with new servicing standards including prompt payment crediting, escrow account maintenance, responding to borrower information requests within 30 business days, and maintaining written policies for third-party provider oversight

Student loan servicers must protect borrowers during loan transfers from negative consequences like negative credit reporting, provide 15-day advance written notice of transfers, and maintain complete records including telephone recordings for at least two years

Mortgage foreclosure loss mitigation requirements strengthened to give borrowers at least 30 days to provide documents and accept offers, require servicers to respond to written requests within 14 days, and halt foreclosure sales when partial or complete loss mitigation applications are received

Real property appraisers and appraisal management companies must notify the Commissioner of Commerce within 10 days of changes to application information, civil judgments involving fraud, disciplinary actions, or criminal charges involving fraud or misrepresentation