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.
$75.5M
Minnesota AG Keith Ellison and a bipartisan coalition of 41 state attorneys general reached a settlement with subprime auto lender Credit Acceptance Corporation requiring it to pay the states $75.5 million and forgive more than $630 million in consumer debt nationwide. The settlement resolves allegations that the company financed auto loans it knew or should have known consumers could not afford, and financed the sale of expensive add-on products that consumers did not know they were purchasing. The company must also fundamentally reform its lending practices, including risk disclosures, loan balance waivers for high-risk defaults, and enhanced consent and cancellation protections for add-on products.
Minnesota Attorney General Keith Ellison joined a bipartisan coalition of 16 attorneys general in a letter to U.S. Senate Banking Committee leaders opposing the Digital Asset Market Clarity Act, warning it would strip states of their ability to combat cryptocurrency scams and fraud. The letter cites over $10 million in crypto scam losses by Minnesotans in 18 months and urges Congress to preserve state registration regimes and enforcement authority. No company was charged and no penalty was imposed; this is legislative advocacy rather than an enforcement action.
Minnesota Attorney General Ellison reached a settlement with Minnesota Valley Cooperative Light and Power Association resolving allegations of deceptive and unfair practices, including disconnecting a customer's electricity despite the customer's need for life-sustaining medical equipment and failing to properly notify customers of consumer protections or offer appropriate payment plans. Under the consent judgment, the cooperative must provide separate disconnection notices, offer written payment plans, maintain records for AG oversight, and forgive amounts owed by the affected consumer.
Minnesota Attorney General Keith Ellison filed a lawsuit in Hennepin County against C4D, LLC, its owners Travis Benoit and Steven Legatt, and related entity Five Points Properties, LLC, alleging 18 counts of violating the Minnesota Human Rights Act, federal lending laws, and state consumer-fraud and contract-for-deed laws. The complaint alleges the defendants sold homes through predatory contracts for deed with inflated prices, hidden finance charges, and large annual balloon payments that leave buyers immediately underwater and forfeit all equity upon default, while targeting Somali-American Muslims on the basis of religion and national origin — a form of 'reverse redlining.' The AG seeks an injunction, civil penalties, and cancellation or reformation of existing contracts; no penalty amounts have been determined.
Minnesota Attorney General Keith Ellison announced the first round of restitution, issuing 8 refund checks totaling $38,634 to consumers harmed by Omega Dental Care, a defunct Eden Prairie dental clinic owned and operated by Anne Soberay. The refunds, paid from the state's Consumer Protection Restitution Account (CPRA), compensate consumers who paid out of pocket for dental services that were never provided. The refunds follow an earlier settlement between the AG's office and Omega Dental Care and Soberay. Note: this is a consumer protection (non-delivery of services) action, not a privacy enforcement action; no privacy violation types from the taxonomy apply.