Relating to notice provisions in connection with designated consumer lending provisions

Where it is now

1. ✓
   Done: IntroducedFebruary 6, 2020
2. ✓
   Done: SubcommitteeJanuary 15, 2020
3. ✓
   Done: Senate committeeFebruary 6, 2020
4. ✓
   Done: Passes the SenateFebruary 25, 202050–0
5. –
   Skipped: House committeeSkipped
6. ✓
   Done: Passes the HouseMarch 3, 2020
7. ✓
   Done: To the GovernorMarch 11, 2020
8. ✓
   Done: Signed into lawMarch 12, 2020

Signed into law What’s a funnel?

What’s in it

This bill relates to consumer lending notice provisions. 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 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

Senate subcommittee

Named January 15, 2020 (as SSB 3011). On January 29, 2020 it recommended amendment and passage.

• Sen. Craig Johnson REmail
• Sen. Tony Bisignano DEmail
• Sen. Michael Breitbach R

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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