Financial Institutions

Repeals the statutes governing first lien mortgage lending, small loans, mortgage rescue protection fraud, and home loan practices and the Uniform Consumer Credit Code. Recodifies the repealed statutes in a new title of the Indiana Code concerning consumer lending (Title 37). Conforms the structure and organization of the recodified statutes to the requirements of the general assembly's drafting manual. Makes conforming changes to cross-references.

Prohibits a payment card network from taking certain actions with respect to electronic payment transactions. Prohibits a payment card network from establishing, putting forward, or implementing a fee schedule that the payment card network knows or reasonably should know has been used by at least one issuer other than the payment card network to determine the amount of an interchange fee received or charged with respect to a charitable contribution, unless the interchange fee does not exceed certain amounts. Provides that a person that alleges damages arising from a payment card network's violation of certain provisions has a cause of action against the payment card network.

Requires a payroll service provider to provide the option to a business client that would allow the business client to hold the business client's funds in a bank account that is: (1) owned by the business client (as opposed to the payroll service provider's bank account); and (2) insured by the Federal Deposit Insurance Corporation or the National Credit Union Share Insurance Fund. Requires a payroll service provider to obtain a performance bond equal to the amount of the business client's total annual estimated payroll taxes.

Defines "Social Security number search request" (search request) as a request made by a consumer to a consumer reporting agency to conduct a search of all files maintained by the consumer reporting agency to determine if the consumer's Social Security number is associated with one or more consumer credit files not associated with the consumer. Provides that after December 31, 2026, upon receiving a search request from a consumer, a consumer reporting agency shall fulfill the consumer's search request if: (1) the consumer reporting agency maintains a file on the consumer; and (2) the consumer provides proper identification and written consent for the consumer reporting agency to verify with the Social Security Administration that the consumer's Social Security number belongs to the consumer. Provides that in fulfilling a search request, a consumer reporting agency shall: (1) verify with the Social Security Administration that the Social Security number supplied by the consumer belongs to the consumer; and (2) conduct a search of all files maintained by the consumer reporting agency to determine if the consumer's Social Security number is associated with one or more files not associated with the consumer. Provides that if the search indicates that the consumer's Social Security number is associated with any files not associated with the consumer, the consumer reporting agency must provide information as to: (1) the number of such files; and (2) each person that procured a consumer report in connection with those files during the one year period immediately preceding the date of the consumer's search request. Prohibits a consumer reporting agency from charging or increasing certain fees in connection with a search request.

Requires a money transmitter (entities licensed under the Money Transmission Modernization Act) to collect and remit an international money wiring fee from senders of a money transmission to a location outside of the United States. Allows a money transmitter to retain a collection allowance from the fee amounts remitted. Provides an income tax credit to individuals who are a citizen or national of the United States, or an alien who has lawful permanent resident status or conditional permanent resident status, and paid an international money wiring fee during the taxable year. Renames the community services quality assurance fund the community based services fund (fund). Requires 20% of the revenue from the international money wiring fee to be deposited in the state general fund and 80% of the revenue to be deposited in the fund to be used to fund the family supports Medicaid waiver and community integration habilitation Medicaid waiver programs, including applied behavior analysis, in order to reduce the wait list and make additional waiver slots available under these two programs. Provides that, of the money in the fund for that purpose, 50% is subject to review by the budget committee before being expended and the remaining 50% may be used any time following the deposit of the money in the fund.