SF 2198 (LSB 5299SV (6) 88)

RELATING TO NOTICE PROVISIONS IN CONNECTION WITH  DESIGNATED CONSUMER LENDING PROVISIONS. 

BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:

    Section 1.  Section 537.3205, subsection 1, Code 2020, is amended to read as follows:
   1.  Whether or not a change is authorized by prior agreement, a creditor may make a change in the terms of an open-end credit account applying to any balance incurred after the effective date of the change only if the creditor delivers or mails to the consumer a written disclosure of the change at least sixty

 days before the effective date of the change in accordance with 12 C.F.R. §1026.9.

______________________________
CHARLES SCHNEIDER
President of the Senate

______________________________
PAT GRASSLEY
Speaker of the House

   I hereby certify that this bill originated in the Senate and is known as Senate File 2198, Eighty-eighth General Assembly.

______________________________
W. CHARLES SMITHSON
Secretary of the Senate

Approved _______________, 2020

______________________________
KIM REYNOLDS
Governor