Title 37, CONSUMER LENDING

Sec. 12. Without regard to whether a borrower is acting individually or on behalf of others similarly situated, a provision of a high cost home loan agreement that: (1) requires arbitration of a claim or defense; (2) allows a party to require a borrower to assert a claim or defen…

Sec. 2. A creditor may not knowingly or intentionally: (1) refinance a high cost home loan by charging points and fees on the part of the proceeds of the new high cost home loan that is used to refinance the existing high cost loan within four (4) years of the origination of the …

Sec. 3. Notwithstanding IC 37-2-4-15, a high cost home loan agreement may not require a scheduled payment that is more than twice as large as the average of earlier scheduled monthly payments under the high cost home loan agreement unless the payment becomes due and payable at le…

Sec. 4. (a) Except as provided in subsection (b), a high cost home loan may not include payment terms under which the outstanding principal balance will increase at any time over the course of the high cost home loan because the regular periodic payments do not cover the full amo…

Sec. 5. A high cost home loan may not contain a provision that increases the interest rate after default. However, this section does not apply to interest rate changes in a variable rate loan otherwise consistent with the provisions of the high cost home loan documents if the cha…

Sec. 6. A high cost home loan may not include terms under which more than two (2) periodic payments required under the high cost home loan are consolidated and paid in advance from the high cost home loan proceeds provided to the borrower. [Pre-2026 Revision Citation: 24-9-4-6.] …

Sec. 7. A creditor may not make a high cost home loan without first providing the borrower information to facilitate contact with a nonprofit counseling agency certified by: (1) the United States Department of Housing and Urban Development; or (2) the Indiana housing and communit…

Sec. 8. (a) A creditor may not make a high cost home loan without regard to repayment ability. (b) If a creditor presents evidence that the creditor followed commercially reasonable practices in determining the borrower's debt to income ratio, there is a rebuttable presumption th…

Sec. 9. A creditor may not pay a contractor under a home improvement contract from the proceeds of a high cost home loan unless: (1) the creditor is presented with a signed and dated completion certificate showing that the home improvements have been completed; and (2) the instru…

Sec. 1. (a) Except as provided in subsection (b), this chapter applies to insurance provided or to be provided in relation to a consumer credit sale, a consumer lease, or a consumer loan. (b) Section 17 of this chapter concerning cancellation by a creditor applies to loans the pr…

Sec. 10. (a) To the extent that the commissioner's responsibility under this chapter requires, the commissioner of insurance shall issue rules with respect to insurers, and with respect to refunds (section 6 of this chapter), forms, schedules of premium rates and charges (section…

Sec. 11. (a) Consumer credit insurance provided by a creditor may be subject to the furnishing of evidence of insurability satisfactory to the insurer. Whether or not such evidence is required, the term of the insurance shall commence no later than when the debtor becomes obligat…

Sec. 12. (a) Except as provided in subsection (b): (1) in the case of consumer credit insurance providing life coverage, the amount of insurance may not initially exceed the debt and, if the debt is payable in installments, may not at any time exceed the greater of the scheduled …

Sec. 13. (a) A creditor may not use a form, or a schedule of premium rates or charges, the filing of which is required by this section, if the insurance commissioner has disapproved the form or schedule and has notified the insurer of the insurance commissioner's disapproval. A c…

Sec. 14. (a) A creditor may not contract for or receive a separate charge for insurance against loss of or damage to property unless: (1) the insurance covers a substantial risk of loss of or damage to property related to the credit transaction; (2) the amount, terms, and conditi…

Sec. 15. If a creditor contracts for or receives a separate charge for insurance against loss of or damage to property, the risk of loss or damage not willfully caused by the debtor is on the debtor only to the extent of any deficiency in the effective coverage of the insurance, …

Sec. 16. A creditor may not contract for or receive a separate charge for insurance against liability unless the insurance covers a substantial risk of liability arising out of the ownership or use of property related to the credit transaction. [Pre-2026 Revision Citation: 24-4.5…

Sec. 17. A creditor shall not request cancellation of a policy of property or liability insurance except after the debtor's default or in accordance with a written authorization by the debtor, and in either case the cancellation does not take effect until written notice is delive…

Sec. 18. Upon the payment in full of a consumer credit sale or consumer loan, the creditor or creditor's assignee shall promptly make an appropriate refund of the unearned premium for any property insurance with respect to which the creditor or the credit account of the consumer …

Sec. 2. (a) Except as otherwise provided in this chapter and subject to the provisions on: (1) additional charges set forth in IC 37-2-3-5 and IC 37-2-4-5; (2) maximum charges set forth in IC 37-2-3-4 through IC 37-2-3-12; and (3) maximum charges set forth in IC 37-2-4-4 through …

Sec. 3. If a creditor agrees with a debtor to provide insurance: (1) the insurance shall be evidenced by an individual policy or certificate of insurance delivered to the debtor, or sent to the debtor at the debtor's address as stated by the debtor, within thirty (30) days after …

Sec. 4. (a) In applying the provisions of this article on unconscionability (IC 37-2-6-7 and IC 37-2-7-12) to a separate charge for insurance, consideration shall be given, among other factors, to: (1) potential benefits to the debtor including the satisfaction of the debtor's ob…

Sec. 5. (a) Except as provided in subsection (b), if a creditor contracts for or receives a separate charge for insurance, the amount charged to the debtor for the insurance may not exceed the premium to be charged by the insurer, as computed at the time the charge to the debtor …

Sec. 6. (a) Upon prepayment in full of a consumer credit sale or consumer loan by the proceeds of consumer credit insurance, the debtor or the debtor's estate is entitled to a refund of: (1) any portion of a separate charge for insurance which by reason of prepayment is retained …

Sec. 7. If a creditor requires insurance, upon notice to the creditor the debtor shall have the option of providing the required insurance through an existing policy of insurance owned or controlled by the debtor, or through a policy to be obtained and paid for by the debtor, but…

Sec. 8. (a) A creditor may not contract for or receive a separate charge for insurance in connection with a deferral (IC 37-2-3-7 or IC 37-2-4-7), a refinancing (IC 37-2-3-8 or IC 37-2-4-8), or a consolidation (IC 37-2-3-9 or IC 37-2-4-9), unless: (1) the debtor agrees at or befo…

Sec. 9. The department and the insurance commissioner are authorized and directed to consult and assist one another in maintaining compliance with this chapter. They may jointly pursue investigations, prosecute suits, and take other official action, as may seem to them appropriat…

Sec. 1. A person who knowingly or intentionally violates this article commits: (1) a Class A misdemeanor; (2) a deceptive act that is actionable by the attorney general under IC 24-5-0.5-4 and is subject to the penalties and remedies available to the attorney general under IC 24-…

Sec. 2. (a) A homeowner may bring an action against a person for damages incurred as a result of a violation of this article. (b) A homeowner who: (1) brings an action under this section; and (2) is awarded damages; may seek reasonable attorney's fees. [Pre-2026 Revision Citation…

Sec. 3. (a) A court may award attorney's fees under section 2(b) of this chapter. (b) If the court finds that a person willfully or knowingly violated this article, the court may award damages equal to three (3) times the amount of actual damages. [Pre-2026 Revision Citation: 24-…

Sec. 4. (a) The Indiana housing and community development authority shall maintain a list of nonprofit organizations that: (1) offer counseling or advice to homeowners in foreclosure or loan defaults; and (2) do not contract for services with for-profit lenders or foreclosure pur…

Sec. 5. The attorney general may adopt rules under IC 4-22-2 necessary to implement this article. [Pre-2026 Revision Citation: 24-5.5-6-5.] As added by P.L.115-2026, SEC.97.

Sec. 6. Except as provided in IC 24-5-15-7(d), this article may not be construed to preempt the provisions of IC 24-5-15-1 through IC 24-5-15-11. [Pre-2026 Revision Citation: 24-5.5-6-6.] As added by P.L.115-2026, SEC.97.

Sec. 1. (a) A person who purchases or is otherwise assigned a high cost home loan is subject to all affirmative claims and any defenses, except for an affirmative claim or defense pursuant to IC 37-5-3-7, with respect to the high cost home loan that the borrower could assert agai…

Sec. 2. (a) If a creditor asserts that grounds for acceleration under the terms of a high cost home loan exist and requires the payment in full of all sums secured by the security instrument, the borrower or a person authorized to act on the borrower's behalf at any time before t…

Sec. 3. (a) A creditor making a high cost home loan that has the right to foreclose must use the judicial foreclosure procedures of the state in which the property securing the high cost home loan is located. The borrower has the right to assert in the proceeding the nonexistence…

Sec. 4. (a) This section does not apply to a violation of IC 37-5-3-7(c)(4), IC 37-5-3-7(c)(5), or IC 37-5-3-7(c)(6). A person who violates this article is liable to a person who is a party to the home loan transaction, mortgage transaction (as defined in IC 37-5-3-7(a)), or real…

Sec. 5. (a) If the creditor or an assignee establishes by a preponderance of evidence that a violation of this article is unintentional or the result of a bona fide error of law or fact notwithstanding the maintenance of procedures reasonably adopted to avoid any such violation o…

Sec. 6. The rights conferred by this article are in addition to rights granted under any other law. [Pre-2026 Revision Citation: 24-9-5-6.] As added by P.L.115-2026, SEC.97.

Sec. 0.1. The amendments made to IC 24-4.5-5-203 (before its repeal) by P.L.181-1991 applied to causes of action accruing after June 30, 1991. [Pre-2026 Revision Citation: 24-4.5-5-0.1.] As added by P.L.115-2026, SEC.97.

Sec. 1. Sections 0.1 through 7 of this chapter apply to: (1) actions or other proceedings to enforce rights arising from consumer credit sales, consumer leases, and consumer loans; (2) garnishments of the earnings of an individual; and (3) extortionate extensions of credit. [Pre-…

Sec. 10. (a) Except as otherwise provided in this section, a creditor who, in violation of the provisions on disclosure in IC 37-2-3-13 and IC 37-2-4-14, fails to disclose information to a person entitled to the information under this article is liable to that person in an amount…

Sec. 11. (a) A violation by a creditor of Section 125 of the Consumer Credit Protection Act concerning the debtor's right to rescind a transaction that is a consumer credit sale or a consumer loan constitutes a violation of this article. A creditor may not accrue interest during …

Sec. 12. Refunds or penalties to which the debtor is entitled pursuant to sections 8 through 11 of this chapter may be set off against the debtor's obligation, and may be raised as a defense to a suit on the obligation without regard to the time limitations prescribed by sections…

Sec. 13. (a) A lender who knowingly makes charges in excess of those permitted by the provisions of this article commits a Class A misdemeanor. (b) A person who knowingly engages in the business of making consumer loans without a license in violation of the provisions of this art…

Sec. 14. A person commits a Class A misdemeanor if the person knowingly gives false or inaccurate information or fails to provide information which the person is required to disclose under the provisions of IC 37-2-3-13 or IC 37-2-4-14. [Pre-2026 Revision Citation: 24-4.5-5-302.]…