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  • Writer's pictureBill Raines

Indiana House Bill 1284 heads to the Governors desk to allow banks and credit unions to make changes to deposits without consent

STATE - FEBRUARY 25, 2024 - On Tuesday the Indiana House and Senate both passed a bill that will allow banks and credit unions to make changes to the deposit accounts ( checking, savings, CD's, retirement savings etc.) of Indiana bank users.




Indiana House Bill 1284 states that if the owner of a deposit account does not close their account within 30 days after a change to their banking agreement is issued, they automatically accept the changes to their banking agreement.


Photo: Eric Koch Indiana Senator District 44


Most Hoosiers have become upset with this passage as the Republican led Senate and House voted for its passage and will become law on July 1, 2024 if Governor Eric Holcomb does not veto the bill.


Photo: Indiana Representative District 65 Chris May


Indiana Senator Eric Koch voted in favor of this legislation with a total of 28 yes votes and 21 no votes and 1 absent.


Indiana Representative Chris May voted yes in the Indiana House with 91 voting yes, 4 voting no, 3 not voting, and 2 absent. A total of 26 Democrats and 65 Republicans in the House supporting the bill.


The banks turned to the Indiana State Legislature after the courts sided with the Hoosiers in the courtroom.


The Indiana Supreme Court ruled that banks needed affirmative assent and could not take a person's silence and continued use of a product as acceptance.


This legislation reverses the court rulings, and many advocates for the elderly are concerned about the impact on older Hoosiers who may not understand.


Many feel the legislation upends consumer rights.


For breaking news and information go to lczephyr.org or like/follow the Lawrence County Zephyr Facebook page.


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Free-Holiness Church 11122 Indiana State Road 54 Cincinnati, Indiana


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1 comentario


Caleb Bay
Caleb Bay
26 feb

Politicians side with banks instead of the people that elected them. Imagine that.

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