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IN SB0416
Bill
AI Summary
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Urges the legislative council to assign an interim study committee to study revisions to the Uniform Consumer Credit Code (IC 24-4.5) during the 2018 interim.
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Directs the study committee to consider eliminating indexing provisions for dollar amounts throughout the UCCC and codifying current indexed dollar amounts, including authorized fees and charges.
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Requires consideration of changing authorized credit service charges for consumer credit sales and finance charges for consumer loans.
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Directs the study committee to consider eliminating supervised loans, changing delinquency charge assessment methods, and reviewing other UCCC changes recommended by lenders, consumers, the department of financial institutions, and stakeholders.
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Expires January 1, 2019.
Legislative Description
Consumer credit code. Urges the legislative council to assign to an interim study committee, for study during the 2018 interim, the topic of revisions to the Uniform Consumer Credit Code. Sets forth issues for consideration by an interim study committee assigned this topic.
Last Action
First reading: referred to Committee on Financial Institutions
2/12/2018