SF3197 - Minnesota - Consumer small loans regulation and modification
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Please upgrade your Flash Player Proposed date: Tuesday, February, 26th 2008 Latest Update: Friday, July, 18th 2008 Regulating consumer small loans; modifying the definition of consumer small loan; specifying a loan limit; regulating lender charges; requiring lender inquiry as to borrower military status; prohibiting loan making to certain recent debtors; prohibiting certain practices; regulating installment payment plans; modifying lender annual report requirements to the commissioner of commerce; requiring lenders to furnish borrowers with written contract copies and specifying contract disclosure requirements; prescribing penalties for violations; expanding the definition of collection agency to include consumer small loan collectors and defining consumer small loan collector; providing an exemption from collector registration and licensing requirements (rt)
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