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Secretary of State

Securities Division > News Archive  > 2004 Press Releases > For Immediate Release: June 28, 2004 Rokita Announces Changes in Loan Broker Act Effective July 1

Contact: Cam Savage
317-232-6533
Media@sos.in.gov

Indianapolis, IN - Indiana Secretary of State Todd Rokita today announced that changes enacted by the Indiana General Assembly in 2004 amending the Indiana Loan Broker Act will take affect July 1. In the 2004 legislative session, Secretary Rokita successfully lobbied the General Assembly to amend the Loan Broker Act to provide additional protections for borrowers and allow for more equitable regulation of loan brokers.

"Although the majority of loan brokers working in Indiana are honest and fair-dealing, these changes in law will help to protect Hoosiers by making sure that all loan brokers are fairly regulated without stifling business," Rokita said.

"I would like to thank State Senators Murray Clark, Tim Lanane and Allen Paul, State Representatives Jeb Bardon and Michael Ripley, and the Indiana Association of Mortgage Brokers for helping my office enact these important reforms," Rokita said.

For questions regarding the interpretation or enforcement of the Indiana Broker Act, please contact Secretary Rokita's Securities Division at 317.232.6681, or visit the website at http://www.sos.in.gov/.