republic-os/legislation/us/states/in/2024/sb-220.md

---
type: "Bill"
title: "Financial institutions and consumer credit."
description: "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."
jurisdiction: "us/states/in"
legislature: "Indiana General Assembly"
session: "2024"
identifier: "SB 220"
citation: "Indiana SB 220 (2024)"
classification: ["bill"]
subjects: ["AGENCIES; Department of Financial Institutions (DFI)", "AGENCIES; Generally", "FINANCIAL SERVICES; Financial Institutions", "FINANCIAL SERVICES; Investments and Securities", "PROFESSIONAL AND OCCUPATIONAL LICENSING; Finance Industry", "TECHNOLOGY; Cyber Security", "Data Privacy", "and Identity Theft", "TRADE REGULATIONS; Consumer Credit and Consumer Protection (Including the Uniform Consumer Credit Code (UCCC))"]
status: "enacted"
primary_sponsors: ["Eric Bassler", "Jake Teshka", "Spencer Deery"]
version_count: 4
action_count: 22
vote_count: 2
first_action: "2024-01-09"
last_action: "2024-03-11"
source: "openstates"
source_identifier: "ocd-bill/a2d20769-9aa6-4d36-a2ec-8294868e1645"
source_url: "https://api.iga.in.gov/2024/bills/sb0220"
source_hash: "ef7324048da5055851ddd2e28b8292432936eb8b7d96cb4007d56bb68b6cae89"
vintage: "2026-07-01"
source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
retrieved_at: "2026-07-06"
confidence: "reported"
tags: ["legislation", "bill", "us-in"]
---

# Indiana SB 220 (2024) — Financial institutions and consumer credit.

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.

## Version chain

The bill's text revisions, in order — the diff chain from filing to enrollment.

1. **Enrolled Senate Bill (S)** (committee substitute) — [source](https://iga.in.gov/pdf-documents/123/2024/senate/bills/SB0220/SB0220.04.ENRH.pdf)
2. **Introduced Senate Bill (S)** (committee substitute) — [source](https://iga.in.gov/pdf-documents/123/2024/senate/bills/SB0220/SB0220.01.INTR.pdf)
3. **Senate Bill (H)** (committee substitute) — [source](https://iga.in.gov/pdf-documents/123/2024/senate/bills/SB0220/SB0220.02.COMS.pdf)
4. **Senate Bill (S)** (committee substitute) — [source](https://iga.in.gov/pdf-documents/123/2024/senate/bills/SB0220/SB0220.03.COMH.pdf)

## Votes

- SB 220 - Bassler - 3rd Reading — **47–1** (pass) · upper
- SB 220 - Teshka - 3rd Reading — **94–0** (pass) · lower

## Sponsors

- Eric Bassler — primary (person)
- Jake Teshka — primary (person)
- Spencer Deery — primary (person)
- Mike Speedy — cosponsor (person)
- Scott Baldwin — coauthor (person)

## Timeline

The legislative action history — every referral, reading, and vote.

- **2024-01-09** Authored by Senator Bassler
- **2024-01-09** First reading: referred to Committee on Insurance and Financial Institutions `reading-1, referral-committee`
- **2024-01-18** Committee report: amend do pass, adopted `committee-passage`
- **2024-01-22** Second reading: ordered engrossed `reading-2`
- **2024-01-22** Senator Deery added as second author
- **2024-01-23** Third reading: passed; Roll Call 24: yeas 47, nays 1 `passage, reading-3, reading-3`
- **2024-01-23** House sponsor: Representative Speedy
- **2024-01-23** Senator Baldwin added as coauthor
- **2024-01-24** Referred to the House `referral`
- **2024-02-06** First reading: referred to Committee on Financial Institutions `reading-1, referral-committee`
- **2024-02-22** Committee report: do pass, adopted `committee-passage`
- **2024-02-26** Representative Teshka added as sponsor
- **2024-02-26** Representative Speedy removed as sponsor
- **2024-02-26** Representative Speedy added as cosponsor
- **2024-02-26** Second reading: ordered engrossed `reading-2`
- **2024-02-27** Third reading: passed; Roll Call 231: yeas 94, nays 0 `passage, reading-3, reading-3`
- **2024-02-28** Returned to the Senate without amendments `receipt`
- **2024-03-04** Signed by the President Pro Tempore `passage`
- **2024-03-07** Signed by the Speaker `passage`
- **2024-03-08** Signed by the President of the Senate `passage`
- **2024-03-11** Signed by the Governor `executive-signature`
- **2024-03-11** Public Law 30 `became-law`

## Source

OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/a2d20769-9aa6-4d36-a2ec-8294868e1645`. Confidence: reported (aggregated from official Indiana legislature records).