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

HF 675: Relating to money transmission services

Signed into law

What it does

This bill relates to bank transmission services. The bill includes updates to the licensing processes for money transmission services seeking to do business in the state, and encourages the superintendent of banking to collaborate with multistate licensing processes. The bill allows for uniform requirements for licensing across states to ensure multi-state compliance for a money transmission services business. The bill modifies the name of the “Uniform Money Services Act” to the “Uniform Money Transmission Modernization Act”.

Sponsors

Ways and Means (successor To Hsb 128) committee

Cost

No fiscal note

Lobbying · 1 for, 2 against

For: Iowa Division of Banking

Against: Independent Payroll Providers Association; National Federation of Independent Business (NFIB /IA)

In plain words

  1. March 20, 2023Filed in the House
  2. April 11, 2023Passed the House, 93–4
  3. April 12, 2023Arrived in the Senate
  4. April 26, 2023Took the place of SF 566 on the Senate floor (the same legislation)
  5. April 26, 2023Passed the Senate, 49–0
  6. May 9, 2023Sent to the Governor
  7. May 11, 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/HF675