MN Commerce Consumer Alerts January 2025: Avoid Bitcoin Scams, Unclaimed Property Day and more





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"January 28, 2025"

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In this issue

* Commerce Joins Three Financial Consumer Protections Settlements Totaling $203M [ #financialprotection ]
* Weatherize Your Home and Decrease Energy Costs Up to 30% [ #weatherization ]
* National Unclaimed Property Day is February 1 [ #unclaimedproperty ]
* Minnesotans are Losing More Money Than Ever to Bitcoin ATM scams [ #bitcoin ]
* Stop Cybersecurity Attacks on your Mobile Phone and Protect Your Data [ #onlinescams ]
* Commerce in the News [ #commerceinthenews ]





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consumer protection
Commerce joins three financial consumer protections settlements totaling $203 million

The settlements help ensure you receive the money management services you expect

The Minnesota Department of Commerce joined federal and state financial regulatory agencies across the U.S. to take coordinated enforcement actions involving financial consumer protection laws that have resulted in settlements with Block, Inc. (Cash App), Edward Jones, and Vanguard. 

“Through collaboration with state and federal regulators, we have been able to protect consumers who rely on financial service companies to manage their money,” said Commerce Commissioner Grace Arnold. “The settlements show the value of state financial services regulators in making a larger impact on outcomes for consumers.”

*Read the press release* [ [link removed] ]






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weatherizing
Weatherize Your Home and Decrease Energy Costs Up to 30%

Income eligible renters and homeowners can apply to receive assistance

Weatherizing can keep your home warmer in the winter without stressing your furnace, and it can help reduce your energy bill.  The Weatherization Assistance Program (WAP) provides free home energy upgrades to income-eligible homeowners and renters to help save energy and make sure your home is a healthy and safe place to live this winter.

*Weatherization Assistance Program* [ [link removed] ]






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unclaimed property
National Unclaimed Property Day is February 1

You may have unclaimed property waiting for you

Commerce safeguards millions of dollars in unclaimed property lost due to circumstances like a change of address, a death, or unknowingly inheriting assets. As part of our mission to protect consumers, Commerce is committed to reuniting Minnesotans with their missing money and property.

*Find Unclaimed Property* [ [link removed] ]






Bitcoin
Minnesotans are Losing More Money Than Ever to Bitcoin ATM scams

A recent law aims to protect Minnesotans from crypto fraud

Consumers are using crypto kiosks, which work similar to cash ATMs, with increasing frequency. Unfortunately, crypto kiosk users are also increasingly becoming victims of scams. During the 2024 Legislative Session, Commerce worked with Rep. Amanda Hemmingsen-Jaeger and Sen. Jen McEwen, as well as with local law enforcement and other stakeholders, to develop this critical consumer protection bill. Learn more about how this law protects Minnesotans from fraud. [ [link removed] ]



smart phone
Stop Cybersecurity Attacks on your Mobile Phone and Protect Your Data

New federal guidelines explain how to protect yourself

Learn how to avoid online scams by using tools such as a secure and encrypted messaging app, enabling a phishing resistant authentication app and updating software and hardware regularly. Learn more about ways to protect yourself and others from hackers. [ [link removed] ]






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Commerce in the News

Commerce Partners with the Financial Literacy Task Force

Commerce’s Financial Institutions Chief Examiner Aeton de Long-Hersh recently joined The Association for Black Economic Power’s Financial Empowerment Center. With more than 20 years of experience in the credit union industry, Aeton will be able to make a huge impact in improving financial literacy across Minnesota communities.

*Read the article* [ [link removed] ]


Extreme weather events push up insurance rates for Minnesotans

Commissioner Grace Arnolds offers tips for navigating insurance issues around extreme weather events in this MPR interview with meteorologist Paul Huttner.

*Listen to the story* [ [link removed] ]


Get updates and news from the Minnesota Department of Commerce at mn.gov/commerce [ [link removed] ] or @MNCommerce on social media.

X [ [link removed] ] |  Facebook [ [link removed] ]  |  YouTube [ [link removed] ]  |  LinkedIn [ [link removed] ]  | Instagram [ [link removed] ]








*Minnesota Department of Commerce*
85 7th Place East, Suite 280
St. Paul, MN 55101

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