Relating to solicitation by a financial institution using prescreened trigger lead information from a consumer report

Where it is now

1. ✓
   Done: IntroducedFebruary 11, 2025
2. ✓
   Done: SubcommitteeFebruary 11, 2025
3. ✓
   Done: House committeeMarch 4, 2025
4. ✓
   Done: Passes the HouseMarch 19, 202596–0
5. ✓
   Done: Senate committeeApril 3, 2025
6. ✓
   Done: Passes the SenateApril 9, 202547–0
7. ✓
   Done: To the GovernorApril 17, 2025
8. ✓
   Done: Signed into lawApril 18, 2025

Became HF 857 → Its progress continues under the new number. Go to HF 857 What’s a funnel?

What’s in it

This bill relates to solicitation by a financial institution using prescreened trigger lead information from a consumer report. Under the bill, a financial institution shall not use an unfair or deceptive practice when using prescreened mortgage trigger lead information derived from a consumer report to solicit a consumer who has applied for a loan with a different financial institution. “Consumer report”, “financial institution”, and “mortgage trigger lead” are defined in the bill. _____ is not affiliated with the financial institution with which the consumer initially applied; fails to conform to state and federal law relating to prescreened solicitations using consumer reports, including but not limited to the requirement to make a firm offer of credit to the consumer; uses information regarding a consumer who has opted out of prescreened offers of credit or who has placed the consumer’s contact information on a federal do-not-call registry; or solicits a consumer with an offer of certain rates, terms, or costs, but subsequently changes the rates, terms, or costs to the detriment of the consumer.

From the explanation printed with the bill as introduced, written by the Legislative Services Agency. Amendments adopted later aren’t reflected. Full bill text · What changed before it passed

House subcommittee

Named February 11, 2025. On February 26, 2025 it recommended amendment and passage.

• Rep. Carter F. Nordman REmail
• Rep. Rob Johnson DEmail
• Rep. Shannon Latham REmail

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Iowa Code it changes

Creates§525.1

Amends§714.16

Read from the bill as introduced. Each links to every bill touching that chapter of the Iowa Code. How the Code works

Family tree

Where this legislation came from and where it went: earlier tries, the versions it moved through this Assembly, and later bills built on it.

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