For more information contact: Matt Swenson 651-297-8406
When you purchase a gift card, there are often strings attached by the purveyor. Under a new law, gift cards can no longer be sold with expiration dates or dormancy fees.
We have had a lot of complaints about companies that take advantage of people suffering from overwhelming debt by offering to “manage" their debts. They offer to provide debt management counseling but instead impose extremely high fees and don’t follow through on promises to pay off creditors. Under the new law, they must register with the Minnesota Department of Commerce, have written agreements with their customers, and their fees are capped.
New restrictions are put on the manufacture, sale, and distribution of jewelry containing lead, in order to protect against fatal poisoning of children.
A couple years ago we passed a law preventing businesses from using Social Security numbers as a primary account identifier or selling Social Security numbers. However, there was an enormous loophole required by the Republicans in control at the time, namely that any business that was doing it already was allowed to keep doing it. Now that the Democrats are back in control, we closed that loophole. This should cut down on some of the identity theft and also protects consumer privacy.