Consumer Protection - As introduced, reduces, from $100 billion to $50 billion, the amount of assets held by a state or national bank, savings and loan association, savings bank, credit union, industrial loan and thrift, or mortgage lender that are necessary to fall within the definition of a financial institution for purposes of the application of certain consumer protections. - Amends TCA Title 4; Title 9; Title 45; Title 47 and Title 56.

SB 487 lowers the asset threshold for financial institutions subject to Tennessee's consumer protection laws, reducing it from $100 billion to $50 billion. This change directly affects banks, credit unions, and mortgage lenders with assets between $50 billion and $100 billion, expanding their coverage under existing consumer protection rules. The bill amends Tennessee Code Sections in Titles 4, 9, 45, 47, and 56 to implement this threshold adjustment. The law takes effect July 1, 2025, without altering the specific consumer protections applied.