Comments: IN HB1137 | 2019 | Regular Session

Bill Title: Credit services organizations. Amends the definition of "credit services organization" for purposes of the Indiana statute governing credit services organizations to more closely align the definition with the definition of "credit repair organization" set forth in the federal Credit Repair Organizations Act. Makes conforming amendments by: (1) amending the definition of "buyer" in the Indiana statute; (2) repealing the definition of "debt settlement services" from the statute; and (3) amending a definitions section in the statute governing debt management companies. Provides that it is a deceptive act for a credit services organization to fail to disclose the credit service organization's contact information on all communications to consumers, data furnishers, creditors, and credit reporting agencies. Specifies that a person that receives a communication from a credit services organization that does not include the credit services organization's contact information may bring a cause of action to recover damages under the statute.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced) 2019-02-21 - Second reading: ordered engrossed [HB1137 Detail]

Text: Latest bill text (Amended) [PDF]

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