IndianaFinancial institutions and consumer credit.
What it does
Provides that a reference to federal law in: (1) the First Lien Mortgage Lending Act; (2) the Uniform Consumer Credit Code (UCCC); or (3) the Indiana Code title governing financial institutions; is a reference to the law as in effect December 31, 2024 (rather than December 31, 2023, under current law). Amends the definition of "principal" for purposes of the UCCC provisions governing consumer loans to specify that the term does not include any loan proceeds held as security for the loan. Makes a technical change to the Indiana Code provision governing the prepayment of consumer loans to incorporate a cross reference to the Indiana Code provision setting forth the authorized nonrefundable prepaid finance charge for supervised loans.
More detail
(Current law references only the authorized nonrefundable prepaid finance charge for consumer loans other than supervised loans.) Amends the definition of "consumer transaction" for purposes of the deceptive consumer sales act (act) to include the provision of a product or service to a: (1) state law enforcement agency; or (2) local law enforcement agency; in Indiana. Amends the definition of "supplier" for purposes of the act to include an entity that provides a product or service to a state or local law enforcement agency in Indiana. Provides that an action that arises from a transaction involving: (1) a state law enforcement agency may be brought and enforced only by the attorney general; and (2) a local law enforcement agency may be brought and enforced only by an attorney acting on behalf of the local law enforcement agency involved in the transaction, unless the local unit of government served by the local law enforcement agency requests the attorney general to bring and enforce an action on behalf of the local unit. Amends the Indiana Code provision governing audit requirements for credit unions to provide that department of financial institutions may establish by policy or rule accounting and auditing standards necessary to define the audit requirements.
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Where it stands
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2025
- May 6Public Law 206Latest
- May 6Signed by the Governor Mike BraunBecame Law
- Apr 29Signed by the President of the SenateMajor
- Apr 25Signed by the SpeakerMajor
- Apr 24CCR # 2 filed in the SenateMinor
- Vote recorded SB 464 - Teshka. Result: pass.Lower
- Vote recorded SB 464 - Bassler. Result: pass.Upper
- Apr 24Motion to withdraw CCR #1: prevailed
- Apr 24Motion to Rescind CCR #1: adopted voice vote
- Apr 24CCR # 2 filed in the HouseMinor
- Apr 24Signed by the President Pro TemporeMajor
- Apr 24Rules Suspended. Conference Committee Report 2: adopted by the House; Roll Call 562: yeas 85, nays 0
- Apr 24Rules Suspended. Conference Committee Report 2: adopted by the Senate; Roll Call 520: yeas 48, nays 1
- Apr 23Rules Suspended. Conference Committee Report 1: adopted by the House; Roll Call 527: yeas 91, nays 0
- Vote recorded SB 464 - Teshka. Result: pass.Lower
- Apr 22CCR # 1 filed in the SenateMinor
- Apr 22CCR # 1 filed in the HouseMinor
- Apr 10Senate conferees appointed: Bassler and Qaddoura
- Apr 10House advisors appointed: Lehman, Pierce K and Dant Chesser
- Apr 10House conferees appointed: Teshka and Andrade
- Apr 10Senate advisors appointed: Randolph Lonnie M, Baldwin and Gaskill
- Apr 8Motion to dissent filedMinor
- Apr 8Senate dissented from House amendments
- Mar 26Returned to the Senate with amendmentsMinor
- Mar 25Third reading: passed; Roll Call 314: yeas 92, nays 3Passed House
- Vote recorded SB 464 - Teshka - 3rd Reading. Result: pass.Lower
- Mar 24Second reading: ordered engrossedMinor
- Mar 20Committee report: amend do pass, adoptedMinor
- Mar 20Representative Andrade added as cosponsor
- Mar 3First reading: referred to Committee on Financial InstitutionsMinor
- Jan 31Referred to the HouseMinor
- Jan 30Third reading: passed; Roll Call 44: yeas 48, nays 0Passed Senate
- Vote recorded SB 464 - Bassler - 3rd Reading. Result: pass.Upper
- Jan 30House sponsor: Representative Teshka
- Jan 27Second reading: ordered engrossedMinor
- Jan 23Committee report: do pass, adoptedMinor
- Jan 23Senator Baldwin added as second author
- Jan 23Senator Gaskill added as third author
- Jan 13First reading: referred to Committee on Insurance and Financial InstitutionsMinor
- Jan 13Authored by Senator BasslerIntroduced