24, 2014 - SAINT PAUL, MN – Minnesota consumers now have a new energy efficiency home improvement loan program that allows more people to access low-interest, unsecured loans and make important energy efficiency upgrades, thanks to a partnership of the Minnesota Department of Commerce and Minnesota Housing Finance Agency.
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.
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.
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.
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.
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.
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).
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.
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.
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.