New Minnesota Dollar Amount Adjustments for Consumer Credit Code and Regulated Loan Act

Minnesota’s recent increases to the dollar amounts listed in its state Regulated Loan Act and Consumer Credit Code will become effective July 1, 2018.  These increases are statutorily required by the Minnesota Consumer Credit Code: the state must adjust the 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, as compiled by the U.S. Department of Commerce.

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