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House Bill 1410


House Bill 1410

ARCHIVE (2011)

Latest Information

 

DIGEST OF HB1410 (Updated February 21, 2011 3:22 pm - DI 84)


Information about credit counseling services. Provides that after December 31, 2011, a payday lender doing business in Indiana shall: (1) conspicuously display at its Indiana business locations and include on each informational pamphlet required to be provided to borrowers under current law, a toll free telephone number that borrowers may call to receive information about credit counseling services; and (2) maintain a toll free number that borrowers may call to receive such information. Defines "credit counseling service" as a nonprofit budget and credit counseling agency approved by the United States Trustee or a bankruptcy administrator. Requires a lender to provide through the required toll free telephone number the name, street address, telephone number, and Internet web site address for at least three approved credit counseling services. After December 31, 2011, requires a lender to include on: (1) each required display in the lending area of the lender's Indiana business locations; and (2) each required pamphlet provided to a borrower; an Internet web site address that borrowers may access to receive information about credit counseling services. Provides that the web site address may be for: (1) a web page maintained by the lender to allow borrowers to access information for at least three approved credit counseling services; or (2) the United States Trustee's web page through which the borrower may directly access information on credit counseling services in Indiana. Requires a lender to update, not later than December 31 of each year, the information provided through: (1) the lender's toll free telephone number; and (2) any web page maintained by lender; to ensure that the information is consistent with that available from the United States Trustee or a bankruptcy administrator. Provides that the toll free telephone number required to be maintained: (1) may connect a borrower to an automated system, such as an interactive voice response system; and (2) may be a telephone number designed to receive customer service calls generally, if the option to receive the required information is in the first menu of options given to the borrower.
Current Status:
 In Committee - 2nd House
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