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90th General Assembly · Funnel one-pager · Monday, November 9, 2026

HF 133: Relating to refund payments made in connection with motor vehicle debt cancellation coverage

Signed into law

What it does

This bill relates to motor vehicle debt cancellation coverage refunds. The bill provides that the only obligation that a financial institution which purchases retail installment contracts with voluntary debt cancellation coverage has upon prepayment in full is to notify the relevant motor vehicle dealer within days of a payment in full of an installment contract. The dealer shall determine whether the consumer is entitled to a refund of voluntary debt cancellation coverage and issue the refund within days of notice.

Sponsors

Commerce committee

Cost

No fiscal note

Lobbying · 2 for, 0 against

For: Iowa Credit Union League; Wells Fargo & Company

In plain words

  1. January 26, 2023Filed in the House
  2. February 1, 2023Passed the House, 99–0
  3. February 2, 2023Arrived in the Senate
  4. February 15, 2023Took the place of SF 131 on the Senate floor (the same legislation)
  5. February 15, 2023Passed the Senate, 48–0
  6. March 22, 2023Sent to the Governor
  7. March 22, 2023Signed into law

From public records at legis.iowa.gov, compiled by Funnel (iowafunnel.com), an independent, nonpartisan site. Current as of Monday, November 9, 2026. https://iowafunnel.com/bills/90/HF133