Indiana Administrative Code Title 750 - DEPARTMENT OF FINANCIAL INSTITUTIONS
Indiana Administrative Code
Title 750 – Department of Financial Institutions
Overview
Title 750 governs the Indiana Department of Financial Institutions (IDFI), which is the regulatory authority overseeing financial entities in Indiana. This includes banks, credit unions, trust companies, mortgage lenders, consumer finance companies, and other financial service providers operating within the state.
The Department’s mission is to ensure the safety, soundness, and consumer protection within Indiana’s financial sector through licensing, supervision, examination, and enforcement of state laws and regulations.
Key Areas Covered in Title 750
1. Authority and Purpose
The IDFI operates under Indiana laws governing financial institutions.
It regulates chartering, licensing, and supervision of financial entities.
Ensures compliance with applicable state laws.
Protects consumers and promotes confidence in the financial system.
2. Licensing and Registration
Sets requirements and procedures for licensing various financial entities:
State-chartered banks and savings institutions.
Credit unions.
Trust companies.
Mortgage brokers and lenders.
Consumer finance companies.
Specifies application requirements, qualifications, and background checks.
Covers license renewal, amendments, and surrender.
3. Examinations and Supervision
Rules for periodic examination and supervision of licensed institutions.
Examines financial condition, management practices, and compliance with laws.
Authority to request reports, conduct on-site inspections, and enforce corrective actions.
Supervisory interventions in cases of unsafe or unsound practices.
4. Consumer Protection
Regulations to ensure fair treatment of consumers.
Disclosure requirements for financial products and services.
Complaint procedures and resolutions.
Restrictions on unfair or deceptive practices by financial institutions.
5. Financial Reporting and Recordkeeping
Requirements for submitting periodic financial statements and audit reports.
Rules on maintaining records and confidentiality.
Guidelines for reporting suspicious or fraudulent activities.
6. Enforcement and Penalties
Authority to investigate violations of laws or regulations.
Procedures for hearings, sanctions, license suspension, or revocation.
Imposition of fines and other penalties for non-compliance.
7. Mortgage and Consumer Finance Regulations
Specific provisions regulating mortgage lending and brokering.
Rules addressing consumer loans, interest rates, disclosures, and collection practices.
Licensing and conduct requirements for mortgage loan originators.
8. Trust Companies and Fiduciaries
Regulation of trust companies, fiduciary duties, and asset management.
Licensing, supervision, and reporting requirements.
Rules ensuring ethical and legal administration of trusts and estates.
Summary Table
| Section | Key Points |
|---|---|
| Authority & Purpose | Regulation of financial institutions and consumer protection |
| Licensing & Registration | Licensing processes for banks, credit unions, lenders |
| Examinations & Supervision | On-site exams, reports, and corrective actions |
| Consumer Protection | Fair practices, disclosures, complaint handling |
| Financial Reporting | Financial statements, audits, and recordkeeping |
| Enforcement & Penalties | Investigations, sanctions, license actions |
| Mortgage & Consumer Finance | Regulation of mortgage lending and consumer finance |
| Trust Companies | Fiduciary oversight and trust management |
Conclusion
Indiana Administrative Code Title 750 establishes the framework for regulating financial institutions in Indiana through the Department of Financial Institutions. By overseeing licensing, supervision, consumer protections, and enforcement, the Department helps maintain a secure and trustworthy financial environment in the state.
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