28-1-23.5-7. Evaluation of Potential Risks; Authorization to Act
Sec. 7. (a) As used in this section, “potential risks”, with respect to a proposed electronic activity by a financial institution, include the following: (1) Legal risks. (2) Transactional risks. (3) Risk of the financial institution’s noncompliance with applicable statutes, regulations, or supervisory policies. (4) Risk of harm to the financial institution’s reputation. (b) A […]
28-1-23.5-8. Activities Authorized for National Banks and Federal Credit Unions
Sec. 8. (a) A financial institution described in section 1(1), 1(3), or 1(4) of this chapter may perform, provide, or deliver through electronic means or facilities any activity, function, product, or service that a national bank is specifically authorized to perform, provide, or deliver under 12 CFR 7.5000 et seq. (b) A financial institution described […]
28-1-23.5-9. Performing Authorized or Required Activities Through Electronic Means
Sec. 9. A financial institution may perform, provide, or deliver through electronic means or facilities any activity, function, product, or service that it is otherwise authorized or required to perform, provide, or deliver by nonelectronic means or facilities, subject to the following: (1) The approval of the customer or member to or for whom the […]
28-1-23.5-1. Application of Chapter
Sec. 1. This chapter applies to the following financial institutions: (1) A bank operating under IC 28-1-11. (2) A credit union operating under IC 28-7-1. (3) A savings bank operating under IC 28-6.1. (4) A savings association operating under IC 28-15. As added by P.L.10-2006, SEC.32 and P.L.57-2006, SEC.32.
28-1-23.5-2. “Electronic Activity”
Sec. 2. As used in this chapter, “electronic activity” refers to: (1) any activity or function that a financial institution performs through electronic means or facilities; or (2) the provision or delivery of any product or service by a financial institution through the use of electronic technology. As added by P.L.10-2006, SEC.32 and P.L.57-2006, SEC.32.
28-1-23.5-3. Consistency With Safety and Soundness Standards, Consumer Protection Laws, and Supervisory Guidance
Sec. 3. An electronic activity performed by a financial institution must be consistent with the following: (1) Standards used by the department to determine whether a financial institution is operating or will operate in a safe and sound condition. (2) State and federal consumer protection laws and regulations. (3) State or federal supervisory guidance considered […]
28-1-23.5-4. Electronic Activities; Statutory Authorization; Standards
Sec. 4. (a) The director may determine whether an electronic activity by a financial institution is permitted under: (1) IC 28-1-11, with respect to a bank; (2) IC 28-7-1, with respect to a credit union; (3) IC 28-6.1, with respect to a savings bank; (4) IC 28-15, with respect to a savings association; or (5) […]
28-1-23.5-5. Electronic Activity Authorized as Part of Financial Institution’s Business
Sec. 5. (a) An electronic activity is authorized for a financial institution as part of the financial institution’s business if the activity is described in: (1) IC 28-1-11, with respect to a bank; (2) IC 28-7-1, with respect to a credit union; (3) IC 28-6.1, with respect to a savings bank; (4) IC 28-15, with […]
28-1-23.5-6. Electronic Activity Incidental to Financial Institution’s Business
Sec. 6. (a) An electronic activity is authorized for a financial institution as incidental to the financial institution’s business if the activity is convenient or useful to an activity that is: (1) specifically authorized for the type of financial institution under consideration; or (2) otherwise part of the business of the type of financial institution […]