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Commerce committee adopts omnibus insurance and consumer‑protection provisions
Summary
The Minnesota Commerce and Consumer Protection committee approved a series of omnibus provisions across multiple articles — covering mortgage servicing, travel insurance, unclaimed property, securities reporting and reinsurance technical changes — by voice vote and agreed to several data‑sharing and transparency measures.
The Commerce and Consumer Protection policy committee convened at 10 a.m. in Room 1200 of the Minnesota Senate Building and approved a package of omnibus provisions affecting insurance, consumer protections and regulatory reporting.
Committee members voted by voice to adopt a succession of motions that collectively approved changes including residential mortgage loan‑servicing standards; student‑loan borrower and servicer provisions; travel‑insurance rules; definitions related to collections…
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