Introduced House Bill (H)

Authored by

DIGEST

Regulation of out-of-state creditors. Urges the legislative council (council) to assign to the interim study committee on financial institutions and insurance (committee) the topic of the state's authority to regulate out-of-state creditors and other financial services businesses that advertise or solicit business in Indiana. Provides that if the topic is assigned to the committee, the committee: (1) shall consider: (A) the practices of out-of-state motor vehicle title lenders that enter into motor vehicle title loans with Indiana residents outside Indiana; and (B) whether it is advisable for the state to seek to regulate out-of-state creditors and other financial services businesses, Regulation of out-of-state creditors. Urges the legislative council (council) to assign to the interim study committee on financial institutions and insurance (committee) the topic of the state's authority to regulate out-of-state creditors and other financial services businesses that advertise or solicit business in Indiana. Provides that if the topic is assigned to the committee, the committee: (1) shall consider: (A) the practices of out-of-state motor vehicle title lenders that enter into motor vehicle title loans with Indiana residents outside Indiana; and (B) whether it is advisable for the state to seek to regulate out-of-state creditors and other financial services businesses, and how regulation can be achieved in a constitutional manner; (2) may consult with specified agencies and consultants; and (3) shall issue a final report to the council not later than November 1, 2016. ... View more