Bills › 91st General Assembly
Relating to interest rates and charges on regulated loans, and consumer credit transaction service charges
Sponsored by the House Commerce Committee
Topics:Business & economy
Where it is now
- Done: IntroducedJanuary 13, 2026
- Done: SubcommitteeJanuary 13, 2026
- Done: House committeeFebruary 4, 2026
- Done: Passes the HouseMarch 12, 202662–29
- Done: Senate committeeMarch 19, 2026
- Done: Passes the SenateApril 7, 202634–11
- Done: To the GovernorMay 2, 2026
- Done: Signed into lawMay 2, 2026
Signed into law What’s a funnel?
What’s in it
AI summary New rules would set the interest rate for all regulated loans at 3 percent per month. It also increases the maximum amount a lender can charge as a service fee from $30 to $100. These changes would affect people taking out loans and the banks that provide them.1
Read the official explanation
This bill relates to interest rates and charges on regulated loans, and consumer credit transaction service charges. The bill eliminates provisions under current law relating to the superintendent of banking’s investigations of the conditions of regulated loans, and authority to redetermine and refix the maximum rate of interest or charges on regulated loans. The bill eliminates provisions under current law establishing the rate of interest or charges upon the class or classes of regulated loans, and instead sets the rate of interest or charges for all regulated loans at 3 percent per month. Under current law, for a consumer credit transaction, in addition to finance charges, a creditor may contract for and receive a service charge in an amount not to exceed the lesser of 10 percent of the amount financed or $30. Under the bill, such service charge shall not exceed the lesser of 10 percent of the amount financed or $100.
Why it matters. Lenders and consumers would see changes to how interest rates and service charges are calculated on regulated loans and consumer credit transactions. All regulated loans would be set at a single monthly interest rate, and the maximum service charge for consumer credit transactions would increase from the lesser of a specific percentage or $30 to the lesser of a specific percentage or $100.2
Changed since by amendment H-8196; see Amendments.
House subcommittee
Named January 13, 2026 (as HSB 524). On January 14, 2026 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
3 for · 1 against · 9 undecided · Who →
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91st General Assembly