CHAPTER 7. STATE POWER TO REGULATE LENDING

IC 24-9-7
    Chapter 7. State Power to Regulate Lending

IC 24-9-7-1
State sole regulator of loans and credit
    Sec. 1. The state is the sole regulator of the business oforiginating, granting, servicing, and collecting loans and other formsof credit in Indiana and the manner in which the business isconducted. This regulation preempts all other regulation of theseactivities by any political subdivision.
As added by P.L.73-2004, SEC.33.

IC 24-9-7-2
Political subdivisions; prohibited practices
    Sec. 2. Political subdivisions may not:
        (1) enact, issue, or enforce ordinances, resolutions, regulations,orders, requests for proposals, or requests for bids pertaining tofinancial or lending activities, including ordinances, resolutions,and rules that disqualify persons from doing business with amunicipality and that are based upon lending terms or practices;or
        (2) impose reporting requirements or any other obligations uponpersons regarding financial services or lending practices orupon subsidiaries or affiliates that:
            (A) are subject to the jurisdiction of the department offinancial institutions;
            (B) are subject to the jurisdiction or regulatory supervisionof the Board of Governors of the Federal Reserve System,the Office of the Comptroller of the Currency, the Office ofThrift Supervision, the National Credit UnionAdministration, the Federal Deposit Insurance Corporation,the Federal Trade Commission, or the United StatesDepartment of Housing and Urban Development;
            (C) are chartered by the United States Congress to engage insecondary market mortgage transactions;
            (D) are created by the Indiana housing and communitydevelopment authority; or
            (E) originate, purchase, sell, assign, securitize, or serviceproperty interests or obligations created by financialtransactions or loans made, executed, originated, orpurchased by persons referred to in clauses (A), (B), (C), or(D).
As added by P.L.73-2004, SEC.33. Amended by P.L.1-2006, SEC.417and P.L.181-2006, SEC.59.