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.
Attorney General Ellison joined a coalition of 23 other states and DC to sue the Trump administration over a policy that would allow the Administration for Children and Families (ACF) to share sensitive TANF recipient data with other federal agencies. The lawsuit argues the policy violates the Administrative Procedure Act and the Spending Clause, and seeks to block its implementation.
The Minnesota court denied X.AI's request for a temporary restraining order that would have halted enforcement of Minnesota's first-in-the-nation AI nudification ban (HF 1606). The law bans technology that generates fake nude images of real people, and Attorney General Ellison argued that X.AI's delay in filing the motion showed no immediate harm. The court agreed, allowing the law to take effect as planned.
The Minnesota Attorney General reached a civil settlement with MN Fundraising Initiative (MNFI), a sham charity that misclassified hundreds of concession stand workers as 'volunteers' while paying them 'grants' in exchange for their labor. The scheme violated Minnesota nonprofit corporation laws, the Minnesota Fair Labor Standards Act, and misclassification statutes. Under the settlement, MNFI must dissolve and file for Chapter 7 bankruptcy.
Minnesota Attorney General Keith Ellison and a bipartisan coalition of 50 attorneys general submitted comments to the FCC urging stronger Know Your Customer (KYC) rules to prevent scammers from using the U.S. communications network for illegal robocalls. The coalition recommends requiring providers to understand customers' business practices, holding all originating providers to KYC standards, and collecting additional information on high-risk customers. This effort is part of Phase 2 of Operation Robocall Roundup.
The Minnesota Attorney General is holding a community forum to gather public input on the proposed acquisition of Allina Health by Sutter Health. The review is conducted under Minnesota's health care transaction law, charities law, and antitrust law to determine if the transaction is in the public interest. No enforcement action has been taken; this is a public consultation.