About the Indiana Loan Broker Act

The Indiana Loan Broker Act (IC 23-2-5) requires the licensing of those people and companies who act as intermediaries between lenders and borrowers. The Act regulates the activities of loan brokers and originators.

A knowing violation of the Indiana Loan Broker Act is a Class D felony punishable by imprisonment for a fixed term of between six (6) months and three (3) years (the advisory sentence being one and one-half (1 1/2 years) and a fine of not more than ten thousand dollars ($ 10,000).