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Consumer Protection & Education News

A list of news releases related to consumer protection and education.

Results 1 - 10  (67 total results)

  • Commerce Department takes action and fines investment advisor operating a Ponzi-scheme targeting elderly investors
    July 23, 2014 - SAINT PAUL, MN – The Minnesota Department of Commerce ordered Mark Holt, a licensed investment advisor, insurance agent, and attorney, to stop engaging in securities related activity and to pay a $300,000 civil penalty for defrauding multiple investors, many of whom are senior citizens, as part of a Ponzi scheme. The findings of fact issued by the Department allege that Holt misled his clients, usually retirees and the elderly who indicated that they specifically invested their money with him due to his standing as a licensed attorney.
  • Commerce Commissioner orders Legal Helpers to pay $187,500 in restitution to Minnesota consumers
    June 30, 2014 - SAINT PAUL, MN – The Minnesota Department of Commerce consent order signed recently requires Chicago-based Legal Helpers Debt Resolution, LLC (LHDR) and its subsidiaries to pay Minnesota consumers $187,500 in restitution for unauthorized and unregistered debt settlement in Minnesota.
  • Commerce Department reminds real estate professionals and collection agencies to renew licenses, and bullion coin dealers to register by June 30
    June 23, 2014 - SAINT PAUL, MN – It’s that time of year again! The Minnesota Department of Commerce is reminding real estate professionals and debt collectors with a license expiration date of June 30, 2014 to set some time aside and submit their renewal by June 30, 2014, 4:30 p.m. CST.
  • Department of Commerce offers assistance and information for a storm damage claim
    June 19, 2014 - For more than a week, Minnesota has experienced significant precipitation throughout the state, causing flooding and damage. The severe weather is expected to continue through June 20th and could include damaging hail and wind. The Department of Commerce reminds consumers to review their auto and homeowners policy, contact their insurance agent and document property damage.
  • Commerce Commissioner Hits the Road as Call-to-Action to Raise Awareness about Senior Financial Abuse
    June 13, 2014 - As part of the Minnesota Department of Commerce’s ongoing state-wide outreach effort to protect senior citizens from financial fraud and abuse, Commerce Commissioner Mike Rothman will spend today at Rochester Community Technical College to commemorate World Elder Abuse Awareness Day (WEAAD) by teaching the class “Preventing Elder Investment Fraud: Assessing for Vulnerability to Financial Exploitation.” Today’s presentation marks the fifteenth event in a statewide push to teach communities how to spot and report fraud and financial abuse within the elderly and vulnerable adult populations. WEAAD is an opportunity for individuals, organizations, and communities to come together as a call-to-action to raise awareness about senior financial abuse.
  • Minnesota Commerce Department Settles with Fourth Oil Company to Return Money Back to the State
    June 09, 2014 - Commerce Commissioner Mike Rothman today finalized the fourth settlement agreement as part of an investigation of improper insurance claims made by oil companies to clean up contaminated sites. The $100,000 settlement with Sunoco and the previous settlements Chevron, Exxon Mobil, and ConocoPhillips total $7.525 million to be returned to Minnesota’s Petroleum Tank Release Cleanup Fund (Petrofund).
  • Commerce Department Recommends Xcel Trim Rate Request by 60 Percent
    June 05, 2014 - The Minnesota Department of Commerce Division of Energy Resources recommended today that the $291 million rate increase proposed by Xcel Energy for electric service in 2014 and 2015 be reduced by over $174 million or 60 percent overall. Xcel provides electric service to over 1,240,926 customers, located largely in the Twin Cities and the southern half of Minnesota. After an extensive review of Xcel’s proposed rate increase, Commerce concluded that Xcel would still be able to provide safe, reliable service by making needed improvements to distribution, transmission and generation facilities at the pared-down rate increase level.
  • New Consumer Protections Will Help Minnesotans Who Rely on Propane to Heat Their Homes
    May 16, 2014 - As part of National Consumer Protection Week, which takes place March 2 – 8, the Minnesota Department of Commerce and Better Business Bureau of Minnesota and North Dakota (BBB) are partnering to offer consumers advice on companies offering credit repair services.
  • Commerce Commissioner Mike Rothman Receives National Award for Work in Financial Empowerment
    April 28, 2014 - Friday, Minnesota Department of Commerce Commissioner Mike Rothman was presented the Desjardins Financial Education Award for State Government Policymakers at the Minnesota Credit Union Network’s (MNCUN) annual meeting in Bloomington. The national award given by the Credit Union National Association (CUNA), recognized Rothman for his commitment to strengthening financial capability through outreach and education for all Minnesotans from Kindergarten to retirement.
  • Commissioner Rothman, Skip Humphrey, Sheriff Bostrom, and AARP’s state director Will Phillips to hold press conference to announce new partnership in the fight against senior fraud
    April 21, 2014 - SAINT PAUL, MN – Protecting Minnesota’s older adults from financial abuse has been a top priority for the Minnesota Department of Commerce, the Consumer Financial Protection Bureau (CFPB), AARP, and Minnesota’s law enforcement.
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