HSB 32: HSB 32

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.

House subcommittee · named January 17, 2023

• Rep. Martin L. Graber (R)
• Rep. Amy Nielsen (D) · amy.nielsen@legis.iowa.gov
• Rep. Charley Thomson (R) · charley.thomson@legis.iowa.gov

Lobbying · 4 for, 0 against

For: Iowa Bankers Association; Iowa Credit Union League; Veridian Credit Union; Wells Fargo & Company

In plain words

1. January 17, 2023Filed in the House and sent to the Commerce committee
2. January 17, 2023House subcommittee named: Graber, Nielsen, Thomson and C
3. January 18, 2023Subcommittee recommended passing it
4. January 24, 2023Approved by the House committee
5. January 26, 2023Approved by the House committee, and given a new number: HF 133