Fabio
10 KiB
type, title, description, jurisdiction, legislature, session, identifier, citation, classification, subjects, status, primary_sponsors, version_count, action_count, vote_count, first_action, last_action, source, source_identifier, source_url, source_hash, vintage, source_snapshot, retrieved_at, confidence, tags
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| Bill | Consumer credit and financial institutions. | Provides that a reference to federal law in: (1) the first lien mortgage lending act (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, 2022 (rather than December 31, 2021, under current law). Amends as follows a provision in the act that authorizes a federal savings bank to voluntarily register with the department of financial institutions (department) for the purpose of sponsoring licensed mortgage loan originators under certain circumstances: (1) Authorizes any person (rather than just a federal savings bank) that meets the requirements set forth in the provision to sponsor one or more licensed mortgage loan originators. (2) Eliminates a requirement that a sponsored individual must sell, solicit, or negotiate insurance under an exclusive written agreement for a licensed insurance company that is a subsidiary of a company that also owns or controls the federal savings bank. (3) Provides that a sponsored individual must be engaged solely as a third party loan processor or underwriter. Specifies certain requirements that a person must comply with in order to sponsor an individual under these provisions. Makes conforming amendments to: (1) the act; and (2) related provisions in the UCCC concerning subordinate lien mortgage transactions. Requires a state chartered credit union (credit union) to maintain capital consistent with the safety and soundness necessary to support the risk in the credit union's activities. Provides that the National Credit Union Administration's: (1) prompt corrective action; and (2) risk based net worth; regulations apply to all credit unions. Requires a credit union that is classified as adequately capitalized or lower to increase the dollar amount of its net worth on a quarterly basis by an amount equal to at least 0.1% of the credit union's total assets until the credit union is classified as well capitalized. Sets forth different: (1) mandatory supervisory requirements or restrictions; and (2) discretionary supervisory requirements or restrictions (to be imposed by the director of the department); with respect to a credit union, depending on the credit union's classification as undercapitalized, significantly undercapitalized, or critically undercapitalized. Directs the department to use specified statutory authority to adopt emergency rules not later than June 30, 2024, to amend the department's rule concerning mortgage lenders and originators in order to: (1) conform the rule to the bill's provisions concerning the sponsorship of licensed mortgage loan originators to engage solely as a third party loan processor or underwriter; and (2) establish a rule to allow certain persons to sponsor one or more mortgage loan originators, who are not employees of the sponsoring person, to perform mortgage loan originator activities exclusively for the sponsoring person under certain prescribed conditions. | us/states/in | Indiana General Assembly | 2023 | SB 452 | Indiana SB 452 (2023) |
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4 | 33 | 1 | 2023-01-19 | 2023-05-04 | openstates | ocd-bill/f5d598b2-8965-486a-aac9-411f7dfcb89c | http://iga.in.gov/legislative/2023/bills/senate/452 | a31c59bea6e98c9b506158ea2594a6a95eee30635cb4f8af5b28a3316d8771d0 | 2026-07-01 | https://data.openstates.org/daily/2026-07-01/public.pgdump | 2026-07-06 | reported |
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Indiana SB 452 (2023) — Consumer credit and financial institutions.
Provides that a reference to federal law in: (1) the first lien mortgage lending act (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, 2022 (rather than December 31, 2021, under current law). Amends as follows a provision in the act that authorizes a federal savings bank to voluntarily register with the department of financial institutions (department) for the purpose of sponsoring licensed mortgage loan originators under certain circumstances: (1) Authorizes any person (rather than just a federal savings bank) that meets the requirements set forth in the provision to sponsor one or more licensed mortgage loan originators. (2) Eliminates a requirement that a sponsored individual must sell, solicit, or negotiate insurance under an exclusive written agreement for a licensed insurance company that is a subsidiary of a company that also owns or controls the federal savings bank. (3) Provides that a sponsored individual must be engaged solely as a third party loan processor or underwriter. Specifies certain requirements that a person must comply with in order to sponsor an individual under these provisions. Makes conforming amendments to: (1) the act; and (2) related provisions in the UCCC concerning subordinate lien mortgage transactions. Requires a state chartered credit union (credit union) to maintain capital consistent with the safety and soundness necessary to support the risk in the credit union's activities. Provides that the National Credit Union Administration's: (1) prompt corrective action; and (2) risk based net worth; regulations apply to all credit unions. Requires a credit union that is classified as adequately capitalized or lower to increase the dollar amount of its net worth on a quarterly basis by an amount equal to at least 0.1% of the credit union's total assets until the credit union is classified as well capitalized. Sets forth different: (1) mandatory supervisory requirements or restrictions; and (2) discretionary supervisory requirements or restrictions (to be imposed by the director of the department); with respect to a credit union, depending on the credit union's classification as undercapitalized, significantly undercapitalized, or critically undercapitalized. Directs the department to use specified statutory authority to adopt emergency rules not later than June 30, 2024, to amend the department's rule concerning mortgage lenders and originators in order to: (1) conform the rule to the bill's provisions concerning the sponsorship of licensed mortgage loan originators to engage solely as a third party loan processor or underwriter; and (2) establish a rule to allow certain persons to sponsor one or more mortgage loan originators, who are not employees of the sponsoring person, to perform mortgage loan originator activities exclusively for the sponsoring person under certain prescribed conditions.
Version chain
The bill's text revisions, in order — the diff chain from filing to enrollment.
- Enrolled Senate Bill (S) (committee substitute) — source
- Introduced Senate Bill (S) (committee substitute) — source
- Senate Bill (H) (committee substitute) — source
- Senate Bill (S) (committee substitute) — source
Votes
- SB 452 - Speedy - 3rd Reading — 96–1 (pass) · lower
Sponsors
- Eric Bassler — primary (person)
- Mike Gaskill — primary (person)
- Mike Speedy — primary (person)
Timeline
The legislative action history — every referral, reading, and vote.
- 2023-01-19 Authored by Senator Bassler
- 2023-01-19 First reading: referred to Committee on Insurance and Financial Institutions
reading-1, referral-committee - 2023-02-02 Committee report: do pass, adopted
committee-passage - 2023-02-06 Second reading: ordered engrossed
reading-2 - 2023-02-06 Senator Gaskill added as second author
- 2023-02-09 Third reading: passed; Roll Call 94: yeas 49, nays 0
passage, reading-3, reading-3 - 2023-02-09 House sponsor: Representative Speedy
- 2023-02-10 Referred to the House
referral - 2023-02-28 First reading: referred to Committee on Financial Institutions
reading-1, referral-committee - 2023-04-03 Committee report: amend do pass, adopted
committee-passage - 2023-04-06 Second reading: ordered engrossed
reading-2 - 2023-04-10 Third reading: passed; Roll Call 378: yeas 96, nays 1
passage, reading-3, reading-3 - 2023-04-11 Returned to the Senate with amendments
receipt - 2023-04-18 Motion to concur filed
filing - 2023-04-19 Concurrence failed for lack of constitutional majority; Roll Call 459: yeas 19, nays 22
failure - 2023-04-20 Concurrence withdrawn
withdrawal - 2023-04-20 Motion to dissent filed
filing - 2023-04-20 Senate dissented from House amendments
- 2023-04-20 House conferees appointed: Speedy and Miller K
- 2023-04-20 House advisors appointed: Slager, Pierce K and Moseley
- 2023-04-24 Senate conferees appointed: Bassler and Qaddoura
- 2023-04-24 Senate advisors appointed: Gaskill and Taylor G
- 2023-04-26 Representative Speedy removed as conferee
- 2023-04-26 Representative Heaton added as conferee
- 2023-04-27 CCR # 1 filed in the Senate
filing - 2023-04-27 CCR # 1 filed in the House
filing - 2023-04-27 Rules Suspended. Conference Committee Report 1: adopted by the Senate; Roll Call 518: yeas 41, nays 7
- 2023-04-27 Rules Suspended. Conference Committee Report 1: adopted by the House; Roll Call 547: yeas 93, nays 2
- 2023-04-28 Signed by the President of the Senate
passage - 2023-04-28 Signed by the President Pro Tempore
passage - 2023-05-01 Signed by the Speaker
passage - 2023-05-04 Public Law 197
became-law - 2023-05-04 Signed by the Governor
executive-signature
Source
OpenStates / OpenCivicData bulk snapshot 2026-07-01; origin ocd-bill/f5d598b2-8965-486a-aac9-411f7dfcb89c. Confidence: reported (aggregated from official Indiana legislature records).