# Indiana SB 464: Financial institutions and consumer credit. Indiana SB 464, Financial institutions and consumer credit., is a First Regular Session 124th General Assembly (2025) Senate bill sponsored by Eric Bassler (Republican); status signed, last action 2025-05-06 (Public Law 206); PRIA reads it as touching household money (as of 2026-10-17). - Canonical: https://policyrisk.com/state-bill/IN-SB464-2025 - As of: 2026-10-17 - Plain-text twin of the page above; the HTML and this file carry the same facts. ## Facts - Bill: Indiana SB 464 - State: Indiana - Session: First Regular Session 124th General Assembly (2025) - Title: Financial institutions and consumer credit. - Status: signed - Chamber: Senate - Introduced: 2025-01-13 - Last action: 2025-05-06, Public Law 206 - Sponsor: Eric Bassler (Republican) - Cosponsors: 4 - Subjects: insurance and financial institutions, the house, financial institutions - Touches household money: yes - Roll calls: 5 (364 yes, 4 no in all) - Economic provisions PRIA read: 5 ## Summary 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. (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. ## Bill overview: provisions PRIA read - Stronger court remedies for harmed consumers: benefit, low. Beginning July 1, 2025, Indiana’s Attorney General can ask courts to stop unfair, abusive, or deceptive consumer practices. In covered cases, courts can order unlawfully taken money held in escrow for return to affected consumers. Courts can also require suppliers to pay reasonable investigation an… - New charge calculations for consumer borrowers: cost, low. Beginning July 1, 2025, certain allowed, nonrefundable prepaid fees are excluded when checking a prepaid consumer loan’s charge limit. This applies to loans outside the law’s prepayment rebate rules. The limit measures charges for the time the loan was in effect, so excluding fees can affect refund… - Updated lending rules and compliance duties: cost, low. Beginning July 1, 2025, Indiana’s first-lien mortgage and consumer-credit laws use federal law as of December 31, 2024. The prior reference date was December 31, 2023. Consumer-credit requirements also include related rules and guidance adopted by Indiana’s Department of Financial Institutions. Cov… - Consumer safeguards cover police agency purchases: mixed, low. Beginning July 1, 2025, consumer-protection rules cover products and services provided to Indiana state and local law-enforcement agencies. Providers can count as suppliers even without dealing directly with consumers. Only Indiana’s Attorney General can bring and enforce these claims for state age… - Annual audits strengthen credit union oversight: mixed, low. Beginning July 1, 2025, each Indiana credit union’s supervisory committee must conduct or arrange an audit every calendar year. Credit unions with at least $5 million in assets must use an outside certified public accountant. The committee reports to directors, and the board submits the audit and a… ## Sponsors and cosponsors - Sponsor: Eric Bassler (Republican), Senate - Cosponsor: Jake Teshka (Republican), House - Cosponsor: Mike Andrade (Democratic), House - Cosponsor: Mike Gaskill (Republican), Senate - Cosponsor: Scott Baldwin (Republican), Senate ## Roll call votes | Date | Chamber | Motion | Result | Yes | No | Other | | --- | --- | --- | --- | --- | --- | --- | | 2025-04-24 | Senate | Rules Suspended. Conference Committee Report 2: adopted by the Senate | pass | 48 | 1 | | | 2025-04-24 | House | Rules Suspended. Conference Committee Report 2: adopted by the House | pass | 85 | 0 | | | 2025-04-23 | House | Rules Suspended. Conference Committee Report 1: adopted by the House | pass | 91 | 0 | | | 2025-03-25 | House | Third reading: passed | pass | 92 | 3 | | | 2025-01-30 | Senate | Third reading: passed | pass | 48 | 0 | | ## Actions (35) - 2025-05-06: Public Law 206 (Senate) - 2025-05-06: Signed by the Governor (Senate) - 2025-04-29: Signed by the President of the Senate (Senate) - 2025-04-25: Signed by the Speaker (House) - 2025-04-24: CCR # 2 filed in the Senate (Senate) - 2025-04-24: Motion to withdraw CCR #1: prevailed (Senate) - 2025-04-24: Motion to Rescind CCR #1: adopted voice vote (House) - 2025-04-24: CCR # 2 filed in the House (House) - 2025-04-24: Signed by the President Pro Tempore (Senate) - 2025-04-24: Rules Suspended. Conference Committee Report 2: adopted by the House; Roll Call 562: yeas 85, nays 0 (House) - 2025-04-24: Rules Suspended. Conference Committee Report 2: adopted by the Senate; Roll Call 520: yeas 48, nays 1 (Senate) - 2025-04-23: Rules Suspended. Conference Committee Report 1: adopted by the House; Roll Call 527: yeas 91, nays 0 (House) - 2025-04-22: CCR # 1 filed in the Senate (Senate) - 2025-04-22: CCR # 1 filed in the House (House) - 2025-04-10: Senate conferees appointed: Bassler and Qaddoura (Senate) - 2025-04-10: House advisors appointed: Lehman, Pierce K and Dant Chesser (House) - 2025-04-10: House conferees appointed: Teshka and Andrade (House) - 2025-04-10: Senate advisors appointed: Randolph Lonnie M, Baldwin and Gaskill (Senate) - 2025-04-08: Motion to dissent filed (Senate) - 2025-04-08: Senate dissented from House amendments (Senate) - 2025-03-26: Returned to the Senate with amendments (House) - 2025-03-25: Third reading: passed; Roll Call 314: yeas 92, nays 3 (House) - 2025-03-24: Second reading: ordered engrossed (House) - 2025-03-20: Committee report: amend do pass, adopted (House) - 2025-03-20: Representative Andrade added as cosponsor (House) - 2025-03-03: First reading: referred to Committee on Financial Institutions (House) - 2025-01-31: Referred to the House (Senate) - 2025-01-30: Third reading: passed; Roll Call 44: yeas 48, nays 0 (Senate) - 2025-01-30: House sponsor: Representative Teshka (Senate) - 2025-01-27: Second reading: ordered engrossed (Senate) - 2025-01-23: Committee report: do pass, adopted (Senate) - 2025-01-23: Senator Baldwin added as second author (Senate) - 2025-01-23: Senator Gaskill added as third author (Senate) - 2025-01-13: First reading: referred to Committee on Insurance and Financial Institutions (Senate) - 2025-01-13: Authored by Senator Bassler (Senate) ## Bill text - Enrolled Senate Bill (S): [PDF](https://api.iga.in.gov/2025/bills/SB0464/versions/SB0464.04.ENRH?format=pdf) - Introduced Senate Bill (S): [PDF](https://api.iga.in.gov/2025/bills/SB0464/versions/SB0464.01.INTR?format=pdf) - Senate Bill (H): [PDF](https://api.iga.in.gov/2025/bills/SB0464/versions/SB0464.02.COMS?format=pdf) - Senate Bill (S): [PDF](https://api.iga.in.gov/2025/bills/SB0464/versions/SB0464.03.COMH?format=pdf) ## Related bills - SB 231: Various corrections matters. (signed) - SB 324: Criminal procedures. (signed) - SB 80: Code publication. (signed) - SB 453: Various tax matters. (signed) - SB 371: Workforce matters. (signed) - SB 289: Unlawful discrimination. (signed) ## Sources - [Enrolled Senate Bill (S) (PDF)](https://api.iga.in.gov/2025/bills/SB0464/versions/SB0464.04.ENRH?format=pdf) - [Introduced Senate Bill (S) (PDF)](https://api.iga.in.gov/2025/bills/SB0464/versions/SB0464.01.INTR?format=pdf) - [Senate Bill (H) (PDF)](https://api.iga.in.gov/2025/bills/SB0464/versions/SB0464.02.COMS?format=pdf) - [Senate Bill (S) (PDF)](https://api.iga.in.gov/2025/bills/SB0464/versions/SB0464.03.COMH?format=pdf) ## Related - [SB 231: Various corrections matters.](https://policyrisk.com/state-bill/IN-SB231-2025) - [SB 324: Criminal procedures.](https://policyrisk.com/state-bill/IN-SB324-2025) - [SB 80: Code publication.](https://policyrisk.com/state-bill/IN-SB80-2025) - [SB 453: Various tax matters.](https://policyrisk.com/state-bill/IN-SB453-2025) - [SB 371: Workforce matters.](https://policyrisk.com/state-bill/IN-SB371-2025) - [SB 289: Unlawful discrimination.](https://policyrisk.com/state-bill/IN-SB289-2025) - [Indiana bills](https://policyrisk.com/states/indiana/bills) - [Indiana state hub](https://policyrisk.com/states/indiana) - [All state legislation](https://policyrisk.com/state-bills) Source: PRIA, https://policyrisk.com/state-bill/IN-SB464-2025 (as of 2026-10-17).