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

SF 566: Relating to money transmission services

Died when the session ended · The General Assembly adjourned on April 19, 2024. Bills that didn’t pass both chambers died.

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 Ssb 1102) (companion To Hf 675 By Committee on Ways and Means) 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. April 6, 2023Filed in the Senate
  2. April 6, 2023Approved by the Senate committee
  3. April 26, 2023Withdrawn

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/SF566