Minnesota banking regulator issues guidance for collection agencies and debt collectors

State Issues Covid-19 Minnesota Debt Collection

On March 13, the Minnesota Commerce Department released guidance to licensed collection agencies granting permission for individual debt collectors to work from home, even where the residence is not a licensed branch location. The collection agencies should ensure that no activity will be conducted in person with members of the public from the home location, the licensee must “at all times exercise supervision of the activity being performed” at the home office, and ensure there are the appropriate safeguards to protect consumer data and information.  The guidance is effective through April 30.