House
File
2329
-
Enrolled
House
File
2329
AN
ACT
RELATING
TO
INTEREST
RATES
AND
CHARGES
ON
REGULATED
LOANS,
AND
CONSUMER
CREDIT
TRANSACTION
SERVICE
CHARGES.
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
Section
1.
Section
536.13,
subsections
1,
2,
and
3,
Code
2026,
are
amended
by
striking
the
subsections.
Sec.
2.
Section
536.13,
subsections
4
and
5,
Code
2026,
are
amended
to
read
as
follows:
4.
Beginning
July
4,
1965,
and
until
such
time
as
a
different
rate
is
fixed
by
the
superintendent,
the
The
maximum
rate
of
interest
or
charges
upon
the
class
or
classes
of
regulated
loans
is
as
follows:
shall
be
three
percent
per
month.
a.
Three
percent
per
month
on
any
part
of
the
unpaid
principal
balance
of
the
loan
not
exceeding
one
hundred
fifty
dollars.
b.
Two
percent
per
month
on
any
part
of
the
loan
in
excess
of
one
hundred
fifty
dollars,
but
not
exceeding
three
hundred
dollars.
c.
One
and
one-half
percent
per
month
on
any
part
of
the
unpaid
principal
balance
of
the
loan
in
excess
of
three
hundred
dollars,
but
not
exceeding
seven
hundred
dollars.
d.
One
percent
per
month
on
any
part
of
the
unpaid
principal
balance
of
the
loan
in
excess
of
seven
hundred
dollars.
5.
A
licensee
under
this
chapter
may
lend
any
sum
of
money
not
exceeding
the
threshold
amount
as
defined
in
section
House
File
2329,
p.
2
537.1301
in
amount
and
may
charge,
contract
for,
and
receive
on
the
loan
interest
or
charges
at
a
rate
not
exceeding
the
maximum
rate
of
interest
or
charges
determined
and
fixed
by
the
superintendent
under
authority
of
this
section
or
pursuant
to
subsection
7
for
those
amounts
in
excess
of
ten
thousand
dollars
4
.
Sec.
3.
Section
536.13,
subsection
7,
paragraph
a,
Code
2026,
is
amended
by
striking
the
paragraph.
Sec.
4.
Section
537.2501,
subsection
1,
paragraph
l,
Code
2026,
is
amended
to
read
as
follows:
l.
For
a
consumer
credit
transaction,
a
service
charge
in
an
amount
not
to
exceed
the
lesser
of
ten
either
three
percent
of
the
amount
financed
or
thirty
one
hundred
dollars.
______________________________
PAT
GRASSLEY
Speaker
of
the
House
______________________________
AMY
SINCLAIR
President
of
the
Senate
I
hereby
certify
that
this
bill
originated
in
the
House
and
is
known
as
House
File
2329,
Ninety-first
General
Assembly.
______________________________
MEGHAN
NELSON
Chief
Clerk
of
the
House
Approved
_______________,
2026
______________________________
KIM
REYNOLDS
Governor