Bill > HF2398

This bill makes various technical and administrative changes to several statutes administered by the Department of Commerce, covering areas such as licensing, financial institutions, money transmission, safe deposit boxes, student loans, and securities regulations. Specifically, the bill modifies provisions related to technology fees for licensing (allowing more flexibility in adjusting surcharges), updates references and language in financial institution regulations, clarifies rules about deposit account transfers and closures, establishes guidelines for safe deposit lease renewals, adjusts definitions for student loan lenders, modifies contract requirements for external reviews, and updates securities-related reporting and registration requirements. The bill also authorizes the commissioner of commerce to use expedited rulemaking to update securities broker-dealer conduct rules, particularly to reflect changes from the National Association of Securities Dealers (NASD) to the Financial Industry Regulatory Authority (FINRA). These changes are primarily technical in nature, aimed at improving administrative processes, clarifying existing language, and ensuring regulatory frameworks remain current and precise.

Business and Industry

https://www.revisor.mn.gov/bills/bill.php?b=House&f=HF2398&ssn=0&y=2025