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MinnesotaHF 450294th Legislature, 2025-2026HouseWALLET

Trusted contact program established to mitigate financial exploitation and fraud, and liability limited.

Sponsored By: Bernie Perryman (Republican)

Became Law

Commerce Finance and PolicyRules and Administration for comparison to SF4652

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Bill Overview

Analyzed Economic Effects

3 provisions identified: 2 benefits, 0 costs, 1 mixed.

Optional trusted contacts for account holders

Minnesota law lets financial providers offer trusted contact programs, but does not require them. If your provider offers one, you can name one or more people age 18 or older. Providers may contact them when you do not respond or cannot be found during an urgent matter or emergency. They may also contact them about suspected fraud or financial exploitation, or to check your status or location for a dormant account. You can end an appointment anytime, and contacts can withdraw anytime; providers may require paperwork. Providers set program procedures and forms. They may also offer optional accounts with transaction limits and limited access for trusted contacts to view account activity.

Financial providers can report suspected fraud

Minnesota law allows financial providers to report suspected fraud or financial exploitation targeting a customer, despite other laws. Reports can go to federal, state, county, or municipal law enforcement, or an appropriate public protection agency. Providers are allowed, but not required, to report.

Legal shields for providers and contacts

Minnesota law shields financial providers from civil liability for reporting suspected fraud or financial exploitation. It also shields them for offering or not offering trusted contact programs, including acts or failures to act while running them. Providers are not liable for a trusted contact's actions. A provider can refuse to work with a contact it determines is not acting in the customer's best interests. That protection requires the provider to act in good faith and with reasonable care. Trusted contacts are immune from liability when they act in good faith and with reasonable care. These protections can limit customers' ability to seek a legal remedy.

Sponsors & Cosponsors

Sponsor

  • Bernie Perryman

    Republican • House

Cosponsors

  • Greg Davids

    Republican • House

  • Duckworth

    Affiliation unavailable

  • Aaron Repinski

    Republican • House

Roll Call Votes

All Roll Calls

Yes: 331 • No: 0

House vote • 5/6/2026

Repassage, as amended by the Senate

Yes: 132 • No: 0

Senate vote • 4/29/2026

Third Reading

Yes: 65 • No: 0

House vote • 4/23/2026

Passage

Yes: 134 • No: 0

Actions Timeline

  1. Secretary of State Chapter 86

    5/12/2026Senate

  2. Governor's action Approval

    5/12/2026Senate

  3. Presented to Governor

    5/11/2026House

  4. Bill was repassed as amended by the Senate vote: 132-0

    5/6/2026House

  5. Third reading as amended by the Senate

    5/6/2026House

  6. Motion prevailed

    5/6/2026House

  7. Motion to concur with Senate amendments

    5/6/2026House

  8. Returned from Senate with amendment

    5/6/2026House

  9. House rule 1.15 (c), message requesting concurrence received

    5/4/2026House

  10. Third reading Passed as amended vote: 65-0

    4/29/2026Senate

  11. Special Order: Amendeda

    4/29/2026Senate

  12. Second reading

    4/28/2026Senate

  13. Comm report: Subst. for SF on General Orders SF4652

    4/28/2026Senate

  14. Referred to Rules and Administration for comparison to SF4652, now on General Orders

    4/27/2026Senate

  15. Introduction and first reading

    4/27/2026Senate

  16. Received from House

    4/27/2026Senate

  17. Bill was passed vote: 134-0

    4/23/2026House

  18. Third reading

    4/23/2026House

  19. House rule 1.21, placed on Calendar for the Day 04/23/2026

    4/22/2026House

  20. Author added Davids

    4/7/2026House

  21. Second reading

    4/7/2026House

  22. Committee report, to adopt

    4/7/2026House

  23. Author added Repinski

    3/25/2026House

  24. Introduction and first reading, referred to Commerce Finance and Policy

    3/18/2026House

Bill Text

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