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Spread the word: Do you have family, friends, neighbors or co-workers who would benefit from knowing more about Commerce?s work to assist and protect consumers?? Send along this newsletter or send a link to mn.gov/commerce.
STATE FAIR: Electrification station, energy rebates and more
Visit the Eco Experience Building at the 2023 MN State Fair to get the latest updates on energy rebates, tax credits and other incentives to save money while you use less energy and our state moves to a clean energy future.
Look for the Energy Info Center exhibit produced by the Minnesota Department of Commerce Energy Resources Division. Get energy smart: Take the energy quiz, walk our electrification station to learn about energy-saving appliances and other green and renewable technology, learn more about Minnesota energy careers. Each day, community partners will share their energy success stories.?
Get more details here.
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STATE FAIR:? Senior Fraud Prevention Program
Going to the State Fair for Senior Days at the Fair? Stop by the AARP booth in the Education Building to meet Marty Fleischhacker, Commerce?s senior fraud prevention ombudsman, and learn more about how to prevent senior fraud. ?Federal data shows consumers reported losing nearly $8.8 billion to scams in 2022, a 30 percent increase over 2021. Losses are likely much more because only 1 in 23 cases are reported to authorities. Commerce investigates senior fraud and works to prevent it. Check out Commerce?s senior financial fraud prevention toolkit.
HOME INSURANCE: Coverage for hail and wind damage
What coverage does your homeowner insurance have for wind and hail damage? Summer storms are a reminder to check what your policy covers and what the deductible is when you have a claim for storm damage. For info on what might have changed with your homeowner insurance, ?check this news release. See?this KSTP story?about a homeowner who contacted Commerce after her insurance claims were denied.
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ENFORCEMENT:
Settlement with online consumer investor platform Robinhood
Minnesota will receive $200,000 under a settlement with Robinhood Financial after a multistate investigation confirmed operational and technical failures that harmed main street investors in Minnesota and elsewhere. The investigation was sparked by Robinhood platform outages in March 2020, when hundreds of thousands of investors were relying on the Robinhood app to make trades. Robinhood had more than 200,000 customers in Minnesota at the time. Department of Commerce news release.?
Lear Capital to compensate consumers who invested in gold coins, precious metals?
Investors who purchased retail precious metals, such as gold coins, from Lear Capital may receive compensation as a part of Lear?s bankruptcy plan. Securities regulators in Minnesota and other states were investigating Lear for deceptive securities and commodities activities and misleading marketing at the time of the company?s bankruptcy. If you were a Lear investor and have questions about the bankruptcy plan, contact Commerce at 651-539-4065. Department of Commerce news release.
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