Reorganization of consumer lending laws.

Summary

The enacted SB 169 rewrites Indiana’s consumer credit laws, creating stricter licensing standards for lenders, mortgage brokers, pawnbrokers and other credit providers, and setting limits on finance charges, prepaid fees, and other transaction costs. It also adds consumer‑protective disclosures, reporting obligations to the Nationwide Multistate Licensing System, and new enforcement tools for the Department of Financial Institutions. The changes affect virtually all credit, loan, mortgage and related transactions in the state and aim to simplify compliance while curbing abusive practices.

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