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SB 220 IN
Became Law

Financial institutions and consumer credit.

IN · session 2024 · Senate · bill

A state bill is a proposed law in a state legislature — separate from the U.S. Congress. Learn more →

Introduced Jan 9, 2024

Latest action (Mar 11, 2024) Public Law 30

Summary

Provides that a reference to federal law in: (1) the first lien mortgage lending act; (2) the Uniform Consumer Credit Code; or (3) the Indiana Code title governing financial institutions; is a reference to the law as in effect December 31, 2023 (rather than December 31, 2022, under current law). Amends Indiana Code provisions concerning accounting practices for credit unions to reflect a new accounting standard that replaces the allowance for loan and lease losses accounting methodology with the allowance for credit losses methodology, as required by the Financial Accounting Standards Board. Establishes a new chapter in the Indiana Code article containing general provisions with respect to financial institutions to require corporations (defined as certain financial institutions organized or reorganized under Indiana law) to notify the director of the department of financial institutions of a reportable cyber incident or notification incident in accordance with the same procedures required by the corporation's federal supervisory authority or federal insurer.

Sponsors (3)
2 coauthors / cosponsors

Action history (22)
  1. Jan 9, 2024 Authored by Senator Bassler · upper
  2. Jan 9, 2024 First reading: referred to Committee on Insurance and Financial Institutions · upper
  3. Jan 18, 2024 Committee report: amend do pass, adopted · upper
  4. Jan 22, 2024 Second reading: ordered engrossed · upper
  5. Jan 22, 2024 Senator Deery added as second author · upper
  6. Jan 23, 2024 Third reading: passed; Roll Call 24: yeas 47, nays 1 · upper
  7. Jan 23, 2024 House sponsor: Representative Speedy · upper
  8. Jan 23, 2024 Senator Baldwin added as coauthor · upper
  9. Jan 24, 2024 Referred to the House · upper
  10. Feb 6, 2024 First reading: referred to Committee on Financial Institutions · lower
  11. Feb 22, 2024 Committee report: do pass, adopted · lower
  12. Feb 26, 2024 Representative Teshka added as sponsor · lower
  13. Feb 26, 2024 Representative Speedy removed as sponsor · lower
  14. Feb 26, 2024 Representative Speedy added as cosponsor · lower
  15. Feb 26, 2024 Second reading: ordered engrossed · lower
  16. Feb 27, 2024 Third reading: passed; Roll Call 231: yeas 94, nays 0 · lower
  17. Feb 28, 2024 Returned to the Senate without amendments · lower
  18. Mar 4, 2024 Signed by the President Pro Tempore · upper
  19. Mar 7, 2024 Signed by the Speaker · lower
  20. Mar 8, 2024 Signed by the President of the Senate · upper
  21. Mar 11, 2024 Signed by the Governor · executive
  22. Mar 11, 2024 Public Law 30 · upper
Subjects
AGENCIES; Department of Financial Institutions (DFI)AGENCIES; GenerallyFINANCIAL SERVICES; Financial InstitutionsFINANCIAL SERVICES; Investments and SecuritiesPROFESSIONAL AND OCCUPATIONAL LICENSING; Finance IndustryTECHNOLOGY; Cyber Security, Data Privacy, and Identity TheftTRADE REGULATIONS; Consumer Credit and Consumer Protection (Including the Uniform Consumer Credit Code (UCCC))

Text versions (4)

The published texts of this bill as it moves through the legislature. Each links to the official document on the state legislature site. Data from OpenStates.

  • Enrolled Senate Bill (S) · PDF
  • Senate Bill (S) · PDF
  • Senate Bill (H) · PDF
  • Introduced Senate Bill (S) · PDF

Full text

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Data from OpenStates. View on OpenStates →