E Relating to financial institutions; clarifying the authority of banks in the metropolitan area to operate detached facilities or main banking facilities; expanding the definition of financial institution to operating subsidiaries for credit extension maximum rates regulation purposes; modifying the time limit for notice to borrowers or purchasers of advances to perform loan or credit sale contract covenants; requiring financial institutions and motor vehicle and manufactured home sales finance companies to credit payments to consumer accounts on the date of receipt, exception, requiring certain account adjustments for failure to comply; expanding the authority of banking institutions to use federal banking laws; modifying the definition of financial institution under the Minnesota residential mortgage originator and servicer licensing act and modifying certain licensing requirements, prohibiting the conduct of business under more than one name or title; modifying the provision requiring a certificate of exemption from the commissioner of commerce to qualify as an exempt person, a real estate broker, an insurance agent or a financial institution; specifying certain conditions for the acceptance of irrevocable letters of credit in lieu of surety bonds; eliminating certain license service fees; applying certain residential mortgage loan rate, fee and charge limits on first and junior lien mortgages; authorizing nonprofit charitable organizations exempt from federal income taxation and participating as regional organizations under the challenge grant program serving Aitkin, Cook, Lake, St. Louis, Carlton, Itasca and Koochiching counties to enter into agreements with the commissioner of commerce to facilitate participation in the federal small business administration guaranteed lender program (foundation loan portfolio pilot project), specifying certain agreement requirements, requiring the organizations to pay the supervision and examination costs of the commissioner, requiring deposit of money received in an account in the special revenue fund; authorizing and providing for a bank located and operating a main bank in Cannon Falls to establish a detached facility in Vasa township with approval of the commissioner; repealing the definition of net worth and certain rules (mk, ja)