HB1528: A BILL FOR AN ACT to amend the Indiana Code concerning trade regulation.

Page last updated: Sunday, April 20, 2025 at 7:19 PM (America/Indianapolis).

General Information

• Stage: Introduced House Bill (H)
• Current Chamber: house
• Origin Chamber: house
• Description: Discrimination in providing financial services.

Legislators

Actions (4 total)

• Jan 28, 2025, 9:52 AM: Representative Judy added as coauthor
• Jan 27, 2025, 10:59 AM: Representatives Lauer and Lucas added as coauthors
• Jan 21, 2025, 11:29 AM: First reading: referred to Committee on Financial Institutions
• Jan 21, 2025, 11:29 AM: Authored by Representative Ireland

Digest

Prohibits a financial services provider from discriminating in providing financial services to a consumer by using a social credit score as a basis for directly or indirectly: (1) declining to provide to the consumer full and equal access to one or more financial services; or (2) providing the consumer with one or more financial services on less favorable terms and conditions than would otherwise apply to the consumer if a social credit score were not used. Defines "social credit score" for purposes of these provisions. Specifies that the term does not include an analysis that involves a financial services provider's evaluation of any quantifiable risks of a consumer's participation in certain business activities or business associations, if the analysis is based on impartial, financial risk based standards that are: (1) established in advance; and (2) publicly disclosed to customers and potential customers; by the financial services provider. Provides that if a financial services provider refuses to provide, terminates, or restricts one or more financial services with respect to a consumer, the consumer may request from the financial services provider a statement of the specific reasons constituting the basis for the refusal, termination, or restriction. Provides that a financial services provider that receives such a request shall transmit to the consumer a written statement setting forth the specific reasons constituting the basis for the refusal, termination, or restriction. Sets forth requirements regarding the: (1) content of; and (2) means and time frame for submitting; a request or statement under these provisions. Provides that a violation of these provisions constitutes a deceptive act that is actionable under the deceptive consumer sales act only by the attorney general. Provides that a consumer aggrieved by a violation of these provisions may bring a civil action (including a class action) for damages, injunctive relief, or both.