Commerce; obsolete dates eliminated.
This bill requires lenders to register with the Minnesota commissioner before offering student loans to Minnesota residents, starting January 1, 2025. The registration process requires lenders to submit their name, address, and information about officers and owners, along with any additional details the commissioner may require. Registrations must be renewed annually by December 31, and the commissioner can set fees and procedures for the registration system, including the use of a national licensing registry. This change directly affects financial institutions and lenders operating in Minnesota's student loan market.
Bill status
in committee
1 of 4 stages cleared
Introduction
Mar 2026
Committee Review
Floor Vote
Governor
Introduced Mar 16, 2026
Last action Mar 16, 2026
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
1
Key actions
0
Committee
0
Mar 16, 2026
Introduced
Introduction and first reading, referred to Commerce Finance and Policy
lower
1 primary · 0 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
Erin Koegel
DDemocratic-Farmer-Labor
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