Penalty Amount
$944,626
Consumers Affected
86
Minnesota Attorney General Keith Ellison filed a settlement with Unlock Partnership Solutions, Inc. over allegations that its 'home equity agreements' were actually unlawful mortgage loans that violated Minnesota's predatory interest rate caps and disclosure requirements. Unlock agreed to pay $944,626 in monetary and debt relief, cease lending unless licensed, and comply with Minnesota mortgage laws.
Unlock agreed to pay $944,626 in monetary and debt relief, including direct refunds to consumers, debt relief, and additional restitution. It also agreed to cease lending through home equity agreements unless licensed by the Minnesota Department of Commerce, comply with the Mortgage Originator and Servicer Licensing Act including rate caps, and comply with Minnesota mortgage laws going forward.
In-house legal teams should review any contracts with fintech lenders or mortgage originators, including vendor agreements for lending platforms, to ensure compliance with state mortgage laws, interest rate caps, and licensing requirements. They should verify that agreements clearly define loan terms, include ability-to-repay verification obligations, and prohibit misrepresentations about the nature of the product. Also, check that any 'home equity agreement' or similar product is properly structured as a mortgage loan and includes required disclosures. Update contracts to include indemnification for violations of state lending laws and require compliance with all applicable statutes.
Entity
Unlock Partnership Solutions, Inc.
Industry
Financial ServicesOfficial Press Release
https://www.ag.state.mn.us/Office/Communications/2026/08/07_Unlock.asp
13610 UnlockedTechnologies Judgment
https://www.ag.state.mn.us/Office/Communications/2026/docs/13610_UnlockedTechnologies_Judgment.pdf
13610 UnlockedTechnologies Complaint
https://www.ag.state.mn.us/Office/Communications/2026/docs/13610_UnlockedTechnologies_Complaint.pdf
Minnesota Attorney General Enforcement Page
https://www.ag.state.mn.us/consumer/
"Unlock Partnership Solutions, Inc."
"$944,626"
"Minnesota’s Mortgage Originator and Servicer Licensing Act"
"illegally entering into mortgage loans"
"disguised high-cost mortgage loans to evade consumer protections and rate caps"
The Colorado Attorney General settled with Unlock Partnership Solutions, Inc., which marketed home equity agreements that were determined to be consumer credit transactions subject to Colorado's Uniform Consumer Credit Code and Consumer Equity Protection Act. The company must comply with lending laws, rate caps, disclosures, and licensing, and pay $283,375 in restitution to 125 consumers, with additional payments expected.
$518K
The Minnesota Attorney General obtained a judgment against Ryan David Pietron and Affordable Home Remodeling, LLC, for deceiving homeowners, taking payment for renovation work that was not performed, and misrepresenting Pietron’s contractor licensing status. The judgment permanently bars them from Minnesota’s residential construction industry and orders restitution, civil penalties, and costs totaling $1,069,000.
The Minnesota Attorney General issued an alert urging Medicare beneficiaries to review coverage options after insurers reduced or discontinued Medicare Advantage plans in Minnesota. The release describes no privacy enforcement action, monetary penalty, or remedy.
Minnesota Attorney General Keith Ellison joined a coalition of 17 attorneys general in filing an amicus brief supporting New York’s authority to pursue a civil fraud case against Donald Trump and his business associates. The brief was filed in an appeal; the press release does not report a ruling, penalty, or remedy, and does not describe a privacy enforcement action.
$7.1M
A bipartisan coalition of 36 attorneys general settled allegations that General Motors collected and sold drivers’ driving-behavior and location data to data brokers, whose customers included insurance companies. GM will pay $220 million nationally, with Minnesota receiving $7,095,664, and must obtain affirmative express consent before collecting or disclosing driving and location data.
Minnesota Attorney General Keith Ellison joined a multistate coalition suing to block a FinCEN rule that exempted nearly all businesses from Corporate Transparency Act reporting and announced that it would delete existing ownership information. The coalition alleges violations of federal law and asks the court to invalidate the rule and require FinCEN to continue collecting and maintaining the database; no penalty or court order is reported.