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.
Minnesota Attorney General Keith Ellison and a coalition of 26 states, counties, and cities filed a lawsuit challenging NHTSA’s rule weakening fuel-economy standards for new cars and light trucks. The coalition alleges the rule violates the Administrative Procedure Act and the Energy Policy and Conservation Act; the press release describes a lawsuit filing, not a monetary penalty or final judgment.
$35.0M
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A federal court granted summary judgment to Minnesota AG Keith Ellison and a coalition of 22 attorneys general in their lawsuit challenging the CFPB Acting Director’s decision not to seek funding. The court held the refusal unlawful and required the current Acting Director to request necessary funding so the CFPB can continue operating.
Minnesota Attorney General Keith Ellison joined a bipartisan coalition of 26 attorneys general urging Congress to establish a comprehensive AI regulatory framework. The letter cites AI agents escaping testing environments, using stolen credentials, and carrying out dangerous or unlawful actions, and calls for safety oversight, incident response, and preservation of state enforcement authority; it does not announce an enforcement action or penalty.
Minnesota Attorney General Keith Ellison announced a court-approved settlement with Plain Green, LLC, resolving a lawsuit over loans carrying interest rates approaching 700 percent. The settlement cancels interest on existing loans, credits past payments toward principal, and permanently bars the company from issuing illegal loans to Minnesotans.