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91st General Assembly · Funnel one-pager · Monday, November 9, 2026

HF 627: Relating to annual percentage rates for delayed deposit service transactions

Became HF 878 · Its progress continues under the new number.

What it does

This bill relates to annual percentage rates for delayed deposit service transactions. Under the bill, a person licensed under Code chapter 533D (licensee) shall not impose an annual percentage rate greater than percent in connection with a delayed deposit service transaction. A delayed deposit service transaction made in violation of the bill shall be void, and the licensee shall not collect, receive, or retain any principal, interest, fees, or other charges in connection with the delayed deposit service transaction. For an individual on active military duty, or their spouse or dependent, a licensee shall not impose an annual percentage rate greater than allowable under U.S.C. §987 in connection with a delayed deposit service transaction.

Sponsors

Rep. Carter F. Nordman (R)

Cost

No fiscal note

House subcommittee · named March 3, 2025

  • Rep. Carter F. Nordman (R) · carter.nordman@legis.iowa.gov
  • Rep. Kenan Judge (D) · kenan.judge@legis.iowa.gov
  • Rep. Shannon Lundgren (R) · shannon.lundgren@legis.iowa.gov

Lobbying · 3 for, 2 against

For: Iowa Catholic Conference; Iowa Citizens for Community Improvement Action Fund; The Family Leader Foundation

Against: Community Choice Financial; MM Finance

In plain words

  1. February 28, 2025Filed in the House and sent to the Commerce committee
  2. March 3, 2025House subcommittee named: Nordman, Judge and Lundgren
  3. March 4, 2025Approved by the House committee
  4. March 4, 2025Committee vote: 22–1
  5. March 7, 2025Approved by the House committee, and given a new number: HF 878

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/91/HF627