Minnesota legislation · 94th Legislature 2025-2026
Minnesota HF4502: Trusted contact program established to mitigate financial exploitation and fraud, and liability limited.
Status: Signed into law, August 1, 2026
What the bill says
A bill for an act relating to financial institutions; establishing a trusted contact program to mitigate financial exploitation and fraud; limiting liability; proposing coding for new law in Minnesota Statutes, chapter 45A.
From the engrossed text, May 7, 2026:
A bill for an act relating to financial institutions; establishing a trusted contact program to mitigate financial exploitation and fraud; limiting liability; proposing coding for new law in Minnesota Statutes, chapter 45A. Section 1. new text begin [ TRUSTED CONTACT PROGRAM.] new text end new text begin [ADDED: Subdivision 1.] new text end new text begin [ADDED: Definition.] new text end new text begin [ADDED: For purposes of this section, "trusted contact" means a person who has attained the age of 18 years and who a financial services provider customer designates as a person a financial services provider may contact if (1) an emergency occurs, (2) the financial services provider loses contact with the customer, or (3) the financial services provider suspects third-party fraud or financial exploitation targeting the customer.] new text end new text begin [ADDED: Subd. 2.] new text end new text begin [ financial exploitation; reporting.] new text end new text begin [ADDED: A financial services provider may report suspected fraudulent activity or financial exploitation targeting a customer to a federal, state, county, or municipal law enforcement agency or an appropriate public protective agency.] new text end new text begin [ADDED: Subd. 3.] new text end new text begin [ADDED: Trusted contact program.] new text end new text begin [ADDED: (a) A financial services provider may offer …
Sponsors
- Bernie Perryman (R) · primary sponsor
- Aaron Repinski (R)
- Davids, Greg (R, 26B)
Latest actions
- : Effective date
- : Secretary of State, Filed
- : Governor approval
- : Presentment date
- : Bill was repassed as amended by the Senate vote: 132-0
- : Third reading as amended by the Senate
- : Motion prevailed
- : Motion to concur with Senate amendments
- : Returned from Senate with amendment
- : House rule 1.15 (c), message requesting concurrence received
Votes
- CONSIDERATION OF MESSAGE FROM THE SENATE - Repassage, as amended by the Senate (May 6, 2026): 132 yea, 0 nay, passed
- the passage of the bill, as amended (April 29, 2026): 65 yea, 0 nay, passed
- CALENDAR FOR THE DAY - Passage (April 23, 2026): 134 yea, 0 nay, passed
Common questions
- What is HF4502?
- HF4502 is a bill in the Minnesota Legislature (94th Legislature 2025-2026): Trusted contact program established to mitigate financial exploitation and fraud, and liability limited.
- What does HF4502 do?
- In its own words: A bill for an act relating to financial institutions; establishing a trusted contact program to mitigate financial exploitation and fraud; limiting liability; proposing coding for new law in Minnesota Statutes, chapter 45A.
- What is the status of HF4502?
- Signed into law as of August 1, 2026. Latest action: Effective date (August 1, 2026).
- Who sponsored HF4502?
- Bernie Perryman (R), with 2 co-sponsors.
- Where is the official record for HF4502?
- On the Minnesota Legislature website: https://www.revisor.mn.gov/bills/bill.php?f=HF4502&y=2025&ssn=0&b=house
Source: official Minnesota record. Tracked by Delilah, AI for legislation across all 50 states and Congress.