Bills › 91st General Assembly
Relating to interest rates and charges on regulated loans, and consumer credit transaction service charges
Sponsored by the Senate Commerce Committee
Topics:Business & economy
Where it is now
- Done: IntroducedJanuary 22, 2026
- Done: SubcommitteeJanuary 22, 2026
- Done: Senate committeeFebruary 4, 2026
- Done: Passes the SenateApril 7, 202634–11
- Skipped: House committeeSkipped
- Done: Passes the HouseMarch 12, 202662–29
- Done: To the GovernorMay 2, 2026
- Done: Signed into lawMay 2, 2026
HF 2329 became law → The same legislation passed as HF 2329, so this version was set aside. Go to HF 2329 What’s a funnel?
What’s in it
AI summary Under this law, the interest rate for all regulated loans would be set at 3 percent per month. It also changes the rules for service charges on consumer credit transactions, limiting them to 3 percent of the amount financed or $100, whichever is less. Additionally, the state banking superintendent would no longer have the power to investigate loan conditions or change the maximum interest rates.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 3 percent of the amount financed or $100.
Changed since by amendment H-8196; see Amendments.
Senate subcommittee
Named January 22, 2026 (as SSB 3065). On January 29, 2026 it recommended amendment and 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