HEA 1539 Summary

• Amends Indiana Code provisions governing first lien mortgage lenders, consumer credit licensees, pawnbrokers, money transmitters, and check cashers by updating federal law references to December 31, 2016 (from December 31, 2015).

• Permits licensees in mortgage lending, small loans, pawnbroking, money transmission, and check cashing to conduct other businesses at the same location unless the other business is for evasion or violation purposes.

• Replaces references to "Federal Consumer Credit Protection Act" with "Consumer Credit Protection Act" and removes outdated references to the Office of Thrift Supervision throughout financial institution statutes.

• Expands the definition of "Nationwide Multistate Licensing System and Registry" (NMLSR) to include registration of mortgage loan originators and other financial services entities, with confidentiality protections for information stored in the system.

• Makes technical corrections to credit union lending powers, pawn ticket requirements, debt management company procedures, and examination authority of the Department of Financial Institutions; adjusts credit limits and fee provisions for consumer loans and supervised loans.