Indiana Senate Bill 329 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on January 13 2020 - 25% progression, died in committee
Action: 2020-01-13 - First reading: referred to Committee on Insurance and Financial Institutions
Pending: Senate Insurance & Financial Institutions Committee
Text: Latest bill text (Introduced) [PDF]

Supervised loans. Provides that a supervised loan is a consumer loan in which the rate of the loan finance charge exceeds 36% per year (current law specifies 25%). Specifies actions that a supervised lender is prohibited from taking. Repeals current limitations on the charges that a supervised lender may contract for and receive. Specifies limits on fees and charges that a supervised lender may impose to replace the repealed limitations. Provides that a lender may not solicit a supervised loan using a negotiable check, facsimile, or other negotiable instrument that may be used by a consumer to activate a new supervised loan. Makes conforming changes.

Supervised loans.

Sen. Andy Zay [R]

Date	Chamber	Action
2020-01-13	Senate	First reading: referred to Committee on Insurance and Financial Institutions
2020-01-13	Senate	Authored by Senator Zay

Type	Source
Summary	https://iga.in.gov/legislative/2020/bills/senate/329/details
Text	http://iga.in.gov/static-documents/3/b/e/a/3beac628/SB0329.01.INTR.pdf