from becoming law. Among them was House Bill 1074, which would have prohibited financial institutions from denying or terminating services to firearms-related businesses based solely on their industry. While positioned as a Second Amendment protection, the bill would have interfered with banks’ ability to manage risk and introduced vague liability standards. It did not receive a hearing. HB 1528 sought to prevent discrimination based on a broadly defined “social credit score,” encompassing political views, religion and environmental beliefs. It would have required banks to justify service denials, creating significant compliance burdens and operational ambiguity. Like HB 1074, it did not advance out of committee. Senate Bill 412 brought interchange limitations into Indiana. Modeled after legislation that passed last year in Illinois, the bill would have removed the ability of a financial institution to assess an interchange fee on gratuity and sales tax at retail establishments. The bill did not receive a hearing. SB 317 proposed banning wage garnishments, property liens and credit reporting related to unpaid medical debt for low-income patients. While the bill aimed to protect vulnerable consumers, it risked setting a precedent that could erode debt collection tools more broadly. After being amended to address IBA concerns, the bill failed on the third reading in the Senate. HB 1614 proposed state-run depositories for gold and silver, the recognition of precious metals as legal tender and the exploration of a state-specific digital currency. These measures raised constitutional and market stability concerns and would have directly competed with the traditional banking system. All controversial provisions were removed in the House Financial Institutions Committee and recommitted to the House Ways and Means Committee, where the bill was ultimately shelved for this session. SB 235 aimed to restrict Diversity, Equity and Inclusion (DEI) policies in both government and state contractors. This posed compliance and reputational risks for banks doing business with public entities. The IBA successfully advocated for the removal of problematic language before the bill’s contents were merged into SEA 289. Each of these bills, in their original form, presented significant challenges, from restricting institutional discretion and complicating credit evaluations to Dax Denton Chief Policy Officer Indiana Bankers Association DDenton@indiana.bank Dax joined the IBA in 2008 and, as of April 2023, also serves as executive director for the Indiana Mortgage Bankers Association. Away from the office, he serves on the Boy Scouts Crossroads of America Council Board. Dax graduated from Indiana University, the IBA Leadership Development Program and the Graduate School of Banking at the University of Wisconsin. Ross Teare Vice President – Government Relations Indiana Bankers Association RTeare@indiana.bank Ross joined the IBA in October 2021. He analyzes issues, reviews legislation, builds relationships with policymakers and enhances IBA’s grassroots advocacy. Ross also heads up the IBA’s BankLEAD internship program and efforts to grow banking programs at Indiana colleges. He graduated from Butler University and the IBA Leadership Development Program. GR SUMMIT CONT. destabilizing long-standing financial frameworks. Their failure to pass is a testament to strong, coordinated advocacy. The IBA thanks the legislators who heard our concerns and acted to prevent unintended harm to Indiana’s banking sector and financial stability. Overall the 2025 legislative session was both productive and largely positive for Indiana’s banking industry. Gov. Mike Braun’s first year in office introduced new leadership dynamics and some shifts in policy priorities, but the General Assembly maintained its consistent focus on fostering a pro-business, fiscally responsible environment. We extend our sincere thanks to the many lawmakers who championed practical, forward-thinking solutions and took the time to listen to our concerns. We also thank our member institutions who actively engaged throughout the session, testifying, contacting legislators and offering valuable feedback. Your efforts made a real difference. The 2025 session reinforced a core truth: When Indiana’s banking community speaks with a unified voice, we help shape smart policy that benefits the entire state. From securing meaningful tax relief and modernizing financial operations to successfully opposing destabilizing legislation, the IBA’s advocacy delivered real results for our members and the communities they serve. 24 HOOSIERBANKER
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