December 2024

Effective State Changes

INDIANA

Indiana published LSA Document #24-266, which implements certain bracket updates, including:

• The graduate rate thresholds for sales and loans increase to $2,600/$5,200, respectively.
• The minimum credit service charge increases to $63.00.
• The delinquency charge for sales and loans increases to $21.50.
• The minimum finance charge for loans increases to $63.00.
• The maximum loan term is 37 months for loans with principals of $1,290 to $5,200.

Effective January 1, 2025 – December 31, 2026.

PENNSYLVANIA

Pennsylvania added motorcycles to the protections afforded by its existing Lemon Law in SB 155. Effective May 18, 2025.

NEW YORK

Assembly Bill 3499 clarifies and creates new laws surrounding automobile broker businesses, including requiring additional disclosures to consumers seeking to purchase or lease automobiles with the assistance of an automobile broker. Effective June 19, 2025.

Signed into law on December 21, 2024, Assembly Bill 8913 directs the superintendent of financial services to create a publicly accessible private education debt registry in New York. Any private education creditor must register with the superintendent and satisfy a host of annual reporting requirements, for use by the registry. Effective immediately.