HSB 514

Where it is now

1. ✓
   Done: IntroducedJanuary 16, 2020
2. ✓
   Done: SubcommitteeJanuary 17, 2020
3. ✓
   Done: House committeeFebruary 5, 2020
4. ✓
   Done: Passes the HouseMarch 3, 2020
5. –
   Skipped: Senate committeeSkipped
6. ✓
   Done: Passes the SenateFebruary 25, 202050–0
7. ✓
   Done: To the GovernorMarch 11, 2020
8. ✓
   Done: Signed into lawMarch 12, 2020

SF 2198 became law → The same legislation passed as SF 2198, so this version was set aside. Go to SF 2198 What’s a funnel?

What’s in it

This bill makes specified changes relating to consumer lending provisions. The bill changes the maximum annual account maintenance fee lenders may collect in connection with home equity lines of credit from $15 to $30. The Iowa consumer credit code contained in Code chapter 537 currently states creditors may only make changes to the terms of an open-end credit account, applying to any balance incurred after the effective date of the change, if the creditor provides to the consumer a written disclosure of the change at least days prior to the effective date of the change. The bill replaces that 60-day notification requirement H.F. _____ by incorporating by reference federal regulations governing the disclosure of changes to the terms of an open-end credit account.

Full bill text · What changed before it passed¹

House subcommittee

Named January 17, 2020. On January 28, 2020 it recommended passage.

• Rep. Gary M. Mohr REmail
• Rep. John H. Wills REmail
• Rep. Bob Kressig DEmail

Three legislators hear a bill first and recommend what the committee should do; it’s the best time to weigh in. How to take part

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