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

Where it is now

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

HF 857 became law → The same legislation passed as HF 857, so this version was set aside. 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. A financial institution is engaged in an unfair or deceptive practice when in an initial phase of a solicitation from a lender or loan broker, the financial institution fails to clearly and conspicuously state that the financial institution 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

Senate subcommittee

Named February 18, 2025 (as SSB 1145). On March 4, 2025 it recommended amendment and passage.

• Sen. Carrie Koelker REmail
• Sen. Matt Blake DEmail
• Sen. Annette Sweeney REmail

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

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.

Earlier and later bills are matched by wording or an identical title; check the text to be sure it’s the same idea.