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republic-os/legislation/us/states/in/2025/sb-464.md
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Fabio 5941153bb7 Legislation: batch B — IL IN KS KY LA MA MD ME MI MN 
Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
2026-07-06 17:27:20 -04:00

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---
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 (UCCC); or (3) the Indiana Code title governing financial institutions; is a reference to the law as in effect December 31, 2024 (rather than December 31, 2023, under current law). Amends the definition of \"principal\" for purposes of the UCCC provisions governing consumer loans to specify that the term does not include any loan proceeds held as security for the loan. Makes a technical change to the Indiana Code provision governing the prepayment of consumer loans to incorporate a cross reference to the Indiana Code provision setting forth the authorized nonrefundable prepaid finance charge for supervised loans. (Current law references only the authorized nonrefundable prepaid finance charge for consumer loans other than supervised loans.) Amends the definition of \"consumer transaction\" for purposes of the deceptive consumer sales act (act) to include the provision of a product or service to a: (1) state law enforcement agency; or (2) local law enforcement agency; in Indiana. Amends the definition of \"supplier\" for purposes of the act to include an entity that provides a product or service to a state or local law enforcement agency in Indiana. Provides that an action that arises from a transaction involving: (1) a state law enforcement agency may be brought and enforced only by the attorney general; and (2) a local law enforcement agency may be brought and enforced only by an attorney acting on behalf of the local law enforcement agency involved in the transaction, unless the local unit of government served by the local law enforcement agency requests the attorney general to bring and enforce an action on behalf of the local unit. Amends the Indiana Code provision governing audit requirements for credit unions to provide that department of financial institutions may establish by policy or rule accounting and auditing standards necessary to define the audit requirements."
jurisdiction: "us/states/in"
legislature: "Indiana General Assembly"
session: "2025"
identifier: "SB 464"
citation: "Indiana SB 464 (2025)"
classification: ["bill"]
subjects: ["AUDITS AND AUDITORS (Non-Elected)", "CIVIL LAW AND PROCEDURE; Liabilities", "Damages", "and Penalties", "FEDERAL GOVERNMENT; Generally", "FINANCIAL SERVICES; Financial Institutions", "FINANCIAL SERVICES; Loans and Mortgages", "LAW ENFORCEMENT; Generally", "STATE ELECTED OFFICIALS; Attorney General", "TRADE REGULATIONS; Consumer Credit and Consumer Protection (Including the Uniform Consumer Credit Code (UCCC))"]
status: "enacted"
primary_sponsors: ["Eric Bassler", "Jake Teshka", "Mike Gaskill", "Scott Baldwin"]
version_count: 4
action_count: 35
vote_count: 5
first_action: "2025-01-13"
last_action: "2025-05-06"
source: "openstates"
source_identifier: "ocd-bill/00f15419-ac6e-45aa-8486-075cc99a2bf4"
source_url: "https://api.iga.in.gov/2025/bills/sb0464"
source_hash: "fbc38e13cac26b2099299a9c2d540cecf6c1e3de60d8148076e2194252562138"
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 464 (2025) — 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 (UCCC); or (3) the Indiana Code title governing financial institutions; is a reference to the law as in effect December 31, 2024 (rather than December 31, 2023, under current law). Amends the definition of "principal" for purposes of the UCCC provisions governing consumer loans to specify that the term does not include any loan proceeds held as security for the loan. Makes a technical change to the Indiana Code provision governing the prepayment of consumer loans to incorporate a cross reference to the Indiana Code provision setting forth the authorized nonrefundable prepaid finance charge for supervised loans. (Current law references only the authorized nonrefundable prepaid finance charge for consumer loans other than supervised loans.) Amends the definition of "consumer transaction" for purposes of the deceptive consumer sales act (act) to include the provision of a product or service to a: (1) state law enforcement agency; or (2) local law enforcement agency; in Indiana. Amends the definition of "supplier" for purposes of the act to include an entity that provides a product or service to a state or local law enforcement agency in Indiana. Provides that an action that arises from a transaction involving: (1) a state law enforcement agency may be brought and enforced only by the attorney general; and (2) a local law enforcement agency may be brought and enforced only by an attorney acting on behalf of the local law enforcement agency involved in the transaction, unless the local unit of government served by the local law enforcement agency requests the attorney general to bring and enforce an action on behalf of the local unit. Amends the Indiana Code provision governing audit requirements for credit unions to provide that department of financial institutions may establish by policy or rule accounting and auditing standards necessary to define the audit requirements.
## 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/124/2025/senate/bills/SB0464/SB0464.04.ENRH.pdf)
2. **Introduced Senate Bill (S)** (committee substitute) — [source](https://iga.in.gov/pdf-documents/124/2025/senate/bills/SB0464/SB0464.01.INTR.pdf)
3. **Senate Bill (H)** (committee substitute) — [source](https://iga.in.gov/pdf-documents/124/2025/senate/bills/SB0464/SB0464.02.COMS.pdf)
4. **Senate Bill (S)** (committee substitute) — [source](https://iga.in.gov/pdf-documents/124/2025/senate/bills/SB0464/SB0464.03.COMH.pdf)
## Votes
- SB 464 - Teshka - 3rd Reading — **92–3** (pass) · lower
- SB 464 - Bassler - 3rd Reading — **48–0** (pass) · upper
- SB 464 - Bassler — **48–1** (pass) · upper
- SB 464 - Teshka — **91–0** (pass) · lower
- SB 464 - Teshka — **85–0** (pass) · lower
## Sponsors
- Eric Bassler — primary (person)
- Jake Teshka — primary (person)
- Mike Gaskill — primary (person)
- Scott Baldwin — primary (person)
- Mike Andrade — cosponsor (person)
## Timeline
The legislative action history — every referral, reading, and vote.
- **2025-01-13** Authored by Senator Bassler
- **2025-01-13** First reading: referred to Committee on Insurance and Financial Institutions `reading-1, referral-committee`
- **2025-01-23** Senator Gaskill added as third author
- **2025-01-23** Senator Baldwin added as second author
- **2025-01-23** Committee report: do pass, adopted `committee-passage`
- **2025-01-27** Second reading: ordered engrossed `reading-2`
- **2025-01-30** House sponsor: Representative Teshka
- **2025-01-31** Referred to the House `referral`
- **2025-01-30** Third reading: passed; Roll Call 44: yeas 48, nays 0 `passage, reading-3, reading-3`
- **2025-03-03** First reading: referred to Committee on Financial Institutions `reading-1, referral-committee`
- **2025-03-20** Representative Andrade added as cosponsor
- **2025-03-20** Committee report: amend do pass, adopted `committee-passage`
- **2025-03-24** Second reading: ordered engrossed `reading-2`
- **2025-03-25** Third reading: passed; Roll Call 314: yeas 92, nays 3 `passage, reading-3, reading-3`
- **2025-03-26** Returned to the Senate with amendments `receipt`
- **2025-04-08** Senate dissented from House amendments
- **2025-04-08** Motion to dissent filed `filing`
- **2025-04-10** Senate advisors appointed: Randolph Lonnie M, Baldwin and Gaskill
- **2025-04-10** House conferees appointed: Teshka and Andrade
- **2025-04-10** House advisors appointed: Lehman, Pierce K and Dant Chesser
- **2025-04-10** Senate conferees appointed: Bassler and Qaddoura
- **2025-04-22** CCR # 1 filed in the House `filing`
- **2025-04-22** CCR # 1 filed in the Senate `filing`
- **2025-04-23** Rules Suspended. Conference Committee Report 1: adopted by the House; Roll Call 527: yeas 91, nays 0
- **2025-04-24** Rules Suspended. Conference Committee Report 2: adopted by the Senate; Roll Call 520: yeas 48, nays 1
- **2025-04-29** Signed by the President of the Senate `passage`
- **2025-05-06** Signed by the Governor `executive-signature`
- **2025-05-06** Public Law 206 `became-law`
- **2025-04-24** Rules Suspended. Conference Committee Report 2: adopted by the House; Roll Call 562: yeas 85, nays 0
- **2025-04-24** Signed by the President Pro Tempore `passage`
- **2025-04-25** Signed by the Speaker `passage`
- **2025-04-24** CCR # 2 filed in the House `filing`
- **2025-04-24** Motion to Rescind CCR #1: adopted voice vote
- **2025-04-24** Motion to withdraw CCR #1: prevailed
- **2025-04-24** CCR # 2 filed in the Senate `filing`
## Source
OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/00f15419-ac6e-45aa-8486-075cc99a2bf4`. Confidence: reported (aggregated from official Indiana legislature records).
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