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Financial Services Law Insights and Observations

Minnesota Department of Commerce designates banks and credit unions as critical sectors

State Issues Covid-19 Bank Compliance Credit Union

State Issues

On March 26, the Minnesota Department of Commerce clarified that banks, credit unions, and other financial services entities within the state are designated as critical sectors and will remain open during the Covid-19 crisis. Kelly’s remarks followed an executive order from Governor Tim Walz, which officially labeled financial services entities as critical sectors.