Bills › 89th General Assembly
HSB 69
Topics:Business & economy
Where it is now
- Done: IntroducedJanuary 19, 2021
- Done: SubcommitteeJanuary 19, 2021
- Done: House committeeJanuary 25, 2021
- Skipped: Passes the HouseContinued as HF 235
- Next: Senate committee
- Next: Passes the Senate
- Next: To the Governor
- Next: Signed into law
Became HF 235 → Its progress continues under the new number. Go to HF 235 What’s a funnel?
What’s in it
AI summary Lenders would be allowed to charge service fees on consumer loans even if the loan does not charge interest. This change also means lenders can no longer be stopped from collecting a minimum fee when a person pays off their loan early.1
Read the official explanation
This bill relates to service charges on consumer credit transactions. Current law authorizes a creditor to contract for and receive a service charge in an amount not to exceed the lesser of percent of the amount financed or $30 for an interest-bearing consumer credit transaction. Additionally, current law prohibits a creditor from collecting a minimum charge upon prepayment of a consumer credit transaction if the creditor collected a service charge in association with an interest-bearing consumer credit transaction. The bill strikes from both of these provisions the requirement that the consumer credit transaction bear interest.
House subcommittee
Named January 19, 2021. On January 21, 2021 it recommended passage.
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
Iowa Code it changes
Lobbying
1 for · 0 against · 7 undecided · Who →
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89th General Assembly