Title 37, CONSUMER LENDING

Sec. 13. Finance charges made in compliance with this chapter are exempt from IC 37-2-4-35 and IC 35-45-7. [Pre-2026 Revision Citation: 24-4.5-7-411.] As added by P.L.115-2026, SEC.97.

Sec. 14. Upon the receipt of a check from a borrower for a small loan, unless the check is marked as void at the time of acceptance by the lender, the lender shall immediately stamp the back of the check with an endorsement that states: "This check is being negotiated as part of …

Sec. 15. (a) A person engaged in making small loans under this chapter shall post a bond to the department in the amount of fifty thousand dollars ($50,000) for each location where small loans will be made, up to a maximum bond in an amount determined by the director. (b) A suret…

Sec. 16. The department may adopt rules under IC 4-22-2 to implement this article. [Pre-2026 Revision Citation: 24-4.5-7-414.] As added by P.L.115-2026, SEC.97.

Sec. 2. (a) Finance charges on the first two hundred fifty dollars ($250) of a small loan are limited to fifteen percent (15%) of the principal. (b) Finance charges on the amount of a small loan greater than two hundred fifty dollars ($250) and less than or equal to four hundred …

Sec. 3. (a) Notwithstanding any other law, the only fee that may be contracted for and received by the lender or an assignee on a small loan is a charge, not to exceed twenty-five dollars ($25), for each: (1) return by a bank or other depository institution of a dishonored: (A) c…

Sec. 4. (a) For purposes of this section, the lender shall disclose to the borrower to whom credit is extended with respect to a small loan the information required by the Consumer Credit Protection Act (15 U.S.C. 1601 et seq.). (b) In addition to the requirements of subsection (…

Sec. 5. (a) A small loan may not be made for a term of less than fourteen (14) days. (b) If five (5) consecutive small loans have been made to a borrower after the borrower's initial small loan, another small loan may not be made to that borrower within seven (7) days after the f…

Sec. 6. (a) A lender is prohibited from making a small loan to a borrower if the total of: (1) the principal amount and finance charges of the small loan to be issued; plus (2) any other small loan balances that the borrower has outstanding with any lender; exceeds twenty percent…

Sec. 7. A small loan may not be secured by personal property other than a check or electronic debit. [Pre-2026 Revision Citation: 24-4.5-7-403.] As added by P.L.115-2026, SEC.97.

Sec. 8. (a) As used in this section, "commercially reasonable method of verification" means a private consumer credit reporting service that the department determines to be capable of providing a lender with adequate verification information necessary to ensure compliance with su…

Sec. 9. (a) This section does not apply to a business that is licensed by the department for a purpose other than consumer loans. (b) A licensee may carry on other business at a location where the licensee makes small loans unless the licensee carries on other business for the pu…

Sec. 1. In addition to any other right under law to cancel or rescind a contract, a homeowner may rescind a: (1) contract with a foreclosure consultant at any time before midnight of the seventh business day after the date the contract is signed; and (2) foreclosure reconveyance …

Sec. 2. A homeowner effectively rescinds a contract with a foreclosure consultant if the homeowner gives written notice of a rescission to the foreclosure consultant by one (1) of the following: (1) Mailing the rescission to the address specified in the contract. (2) Sending the …

Sec. 3. (a) If a notice of rescission under this chapter is sent by mail, the rescission is effective three (3) days after the notice is deposited in the United States mail, properly addressed, with postage prepaid. (b) A homeowner is not required to give notice of rescission in …

Sec. 4. (a) If a homeowner rescinds a contract with a foreclosure consultant or a foreclosure reconveyance agreement, the homeowner shall, not later than thirty (30) days after the date of rescission, repay any amounts paid or advanced by: (1) the foreclosure consultant or the fo…

Sec. 5. If a homeowner rescinds a contract with a foreclosure consultant, not less than ten (10) days following the effective date of the rescission, the consultant shall return to the homeowner any payments made by the homeowner, less any amounts for actual services rendered. [P…

Sec. 0.1. A person is not subject to a prohibition or requirement of: (1) IC 24-9-3 (before its repeal) and IC 24-9-4 (before its repeal), both as added by P.L.73-2004; or (2) this chapter and IC 37-5-4; with respect to a loan made before January 1, 2005. [Pre-2026 Revision Citat…

Sec. 1. (a) A creditor making a home loan may not finance, directly or indirectly, any: (1) credit life insurance; (2) credit disability insurance; (3) credit unemployment insurance; (4) credit property insurance; or (5) payments directly or indirectly for any cancellation suspen…

Sec. 2. (a) A creditor may not knowingly or intentionally replace or consolidate a zero (0) interest rate or other subsidized low rate loan made by a governmental or nonprofit lender with a high cost home loan within the first ten (10) years of the subsidized low rate loan unless…

Sec. 3. A creditor may not recommend or encourage default on an existing loan or other debt before and in connection with the closing or planned closing of a home loan that refinances all or part of the existing loan or debt. [Pre-2026 Revision Citation: 24-9-3-3.] As added by P.…

Sec. 4. A creditor shall treat each payment made by a borrower in regard to a home loan as posted on the same business day as the payment was received by the creditor, servicer, or creditor's agent, or at the address provided to the borrower by the creditor, servicer, or creditor…

Sec. 5. (a) A home loan agreement may not contain a provision that permits the creditor, in the creditor's sole discretion, to accelerate the indebtedness without material cause. (b) This section does not prohibit acceleration of a home loan in good faith due to the borrower's fa…

Sec. 6. (a) A creditor may not charge a fee for informing or transmitting to a person the balance due to pay off a home loan or to provide a written release upon prepayment. A creditor must provide, in writing, a payoff balance not later than seven (7) business days (excluding le…

Sec. 7. (a) As used in this section, "mortgage transaction" includes the following: (1) A home loan subject to this article. (2) To the extent allowed under federal law, a loan described in IC 37-5-1-1 that is secured by a mortgage or a land contract (or another consensual securi…

Sec. 8. A person seeking to enforce section 7(c)(3), 7(c)(4), or 7(c)(5) of this chapter may not knowingly or intentionally intimidate, coerce, or harass another person. [Pre-2026 Revision Citation: 24-9-3-8.] As added by P.L.115-2026, SEC.97.

Sec. 9. It is unlawful for a creditor to discriminate against any applicant with respect to any aspect of a credit transaction on the basis of race, color, religion, national origin, sex, marital status, or age, if the applicant has the ability to contract. [Pre-2026 Revision Cit…

Sec. 1. This chapter applies to a person that engages as a creditor in first lien mortgage transactions in Indiana. The authority of this chapter remains in effect, whether a licensee, individual, or person subject to this article acts or claims to act under any licensing or regi…

Sec. 10. (a) As used in this section, "deceptive act" means an act or a practice in which a person knowingly or intentionally: (1) makes a material misrepresentation concerning; or (2) conceals material information regarding the terms or conditions of; a first lien mortgage trans…

Sec. 11. With respect to an action brought under: (1) section 9 of this chapter to enjoin violations of this article; or (2) section 10 of this chapter to enjoin deceptive acts; the department may apply to the court for appropriate temporary relief against a respondent, pending f…

Sec. 12. (a) The department may bring a civil action against a creditor or a person acting on behalf of the creditor to recover a civil penalty for willfully violating this article. If the court finds that the defendant has engaged in a course of repeated and willful violations o…

Sec. 13. The grant of powers to the department under this article does not affect remedies available to debtors under this article or under other principles of law or equity. [Pre-2026 Revision Citation: 24-4.4-3-113.] As added by P.L.115-2026, SEC.97.

Sec. 14. The department may bring an action or a proceeding in a court in a county: (1) in which an act on which the action or proceeding is based occurred; (2) in which the respondent resides or transacts business; or (3) in which the action or proceeding is otherwise authorized…

Sec. 2. (a) In addition to other powers granted by this article, the department within the limitations provided by law may: (1) receive and act on complaints, take action designed to obtain voluntary compliance with this article, or commence proceedings on the department's own in…

Sec. 3. (a) In administering this article and in order to determine whether the provisions of this article are being complied with by persons engaging in acts subject to this article, the department may examine the records of persons and may make investigations of persons as may …

Sec. 4. To carry out the purposes of this article, the director may: (1) retain attorneys, accountants, or other professionals and specialists as examiners, auditors, or investigators to conduct or assist in the conduct of examinations or investigations; (2) enter into agreements…

Sec. 5. It is a violation of this article for a person or individual subject to this article to: (1) directly or indirectly employ any scheme, device, or artifice to defraud or mislead borrowers or lenders or to defraud any person; (2) engage in any unfair or deceptive practice t…

Sec. 6. Except as otherwise provided, IC 4-21.5-3 governs any action taken by the department under this chapter or IC 37-1-3-4 through IC 37-1-3-19. IC 4-22-2 applies to the adoption of rules by the department under this article. All proceedings for administrative review under IC…

Sec. 7. (a) After notice and hearing, the department may order a creditor or a person acting on behalf of the creditor to cease and desist from engaging in violations of this article. In any civil court with jurisdiction: (1) a respondent aggrieved by an order of the department m…

Sec. 8. If it is claimed that a person has engaged in conduct subject to an order by: (1) the department under section 7(a) of this chapter; or (2) a court under sections 9 through 11 of this chapter; the department may accept an assurance in writing that the person will not enga…

Sec. 9. The department may bring a civil action to restrain a person from violating this article or other state or federal law, rule, or regulation and for other appropriate relief. [Pre-2026 Revision Citation: 24-4.4-3-108.] As added by P.L.115-2026, SEC.97.

Sec. 0.1. The following amendments to IC 24-4.5-3 (before its repeal) applied as follows: (1) The amendments made to IC 24-4.5-3-201 (before its repeal) by P.L.163-1999 did not apply to consumer loans in existence before July 1, 1999. (2) The amendments made to IC 24-4.5-3-209(1)…

Sec. 1. (a) This chapter applies to consumer loans, including supervised loans. (b) Sections 15 through 21 of this chapter apply to consumer loans. Except as otherwise provided, all provisions of this article applying to consumer loans apply to supervised loans. (c) Sections 41 t…

Sec. 10. The parties may agree to add to a revolving loan account the unpaid balance of a consumer loan, not made pursuant to a revolving loan account, or a refinancing, or consolidation thereof, or the unpaid balance of a consumer credit sale, refinancing or consolidation. For t…

Sec. 11. (a) If the agreement with respect to a consumer loan, refinancing, or consolidation contains covenants by the debtor to perform certain duties pertaining to insuring or preserving collateral and if the lender pursuant to the agreement pays for performance of the duties o…

Sec. 12. (a) Subject to the provisions on rebate upon prepayment set forth in section 13 of this chapter, the debtor may prepay in full the unpaid balance of a consumer loan, refinancing, or consolidation at any time without penalty. With respect to a consumer loan that is primar…