IN HR0053

Urges the legislative council to assign an interim study committee to study revisions to Indiana's Uniform Consumer Credit Code (UCCC), which was enacted in 1971 based on the 1968 version of the Uniform Act.

Identifies the UCCC as lacking substantial amendments to address current industry trends, standard consumer demands, and technological advancements.

Directs the study committee to consider eliminating indexing provisions for dollar amount adjustments and codifying specific dollar amounts for authorized fees and charges.

Instructs the committee to evaluate changing authorized credit service charges for consumer credit sales and authorized finance charges for consumer loans, and to consider eliminating supervised loans.

Requires the committee to review how delinquency charges are assessed and consider other UCCC changes recommended by lenders, consumers, the department of financial institutions, and other stakeholders.