Minnesota Publishes Dollar Amounts Regarding Consumer Credit Code and Regulated Loan Act Adjustments

The Minnesota Department of Commerce recently published the adjusted dollar amounts indexed in the Minnesota Statutes governing the Minnesota Consumer Credit Code—Minnesota Statutes, Chapter 56—and the Regulated Loan Act—Minnesota Statues, Section 47.59.  The adjusted dollar amounts for 2018 are effective on July 1, 2018.

Minnesota Consumer Credit Code, Section 47.59, and the Regulated Loan Act, Section 56.131, provide for the periodic adjustment of dollar amounts, effective on July 1 of even-numbered years, based on a percentage change in the implicit Price Deflator for the Gross Domestic Product.  The amounts will increase on July 1 of this year from the previous adjustments in 2016, and the next scheduled adjustments will be made in 2020.

The published dollar-amount adjustments from the Minnesota Department of Commerce are available here.