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Can you summarize IC 24-5-26?
CONSUMER SALES > Identity Theft
Short Summary
This legal document found in the Indiana Code under the Trade Regulation section governs the duties concerning a victim of identity theft. It prohibits persons engaged in trade or commerce from denying credit or public utility service to a consumer solely because they were a victim of identity theft, provided that the person had prior knowledge of the consumer’s victimization. A consumer is presumed to be a victim of identity theft if they provide a copy of a police report and either a standardized affidavit of identity theft or an acceptable affidavit of fact. However, denial of credit or public utility service is allowed if the consumer has placed a security freeze on their consumer report and does not wish to temporarily lift the freeze. The document also prohibits soliciting to extend credit to a consumer without an existing line of credit or a current credit card through the use of unsolicited checks or credit cards. Violations of these provisions make the credit card issuer, financial institution, or lender liable for any unauthorized use of the instrument or charges incurred by the consumer. Additionally, the document requires reasonable procedures to verify the identity of consumers before extending credit, with compliance with relevant regulations considered sufficient. This document does not apply to certain credit obligations or changes to existing credit accounts. A person who knowingly or intentionally violates this chapter commits a deceptive act that is actionable by the attorney general under IC 24-5-0.5-4 and is subject to the penalties and remedies available to the attorney general under IC 24-5-0.5. This section does not affect the availability of any civil remedy for a violation of this chapter, IC 24-5-0.5, or any other state or federal law.
Whom does it apply to?
Persons engaged in trade or commerce, credit card issuers, financial institutions, lenders
What does it govern?
Duties concerning a victim of identity theft, prohibiting denial of credit or public utility service, prohibiting soliciting to extend credit, requiring procedures to verify identity before extending credit
What are exemptions?
Certain credit obligations or changes to existing credit accounts
What are the Penalties?
Actionable by the attorney general under IC 24-5-0.5-4, subject to penalties and remedies available under IC 24-5-0.5
Jurisdiction
Indiana