House File 395
HOUSE FILE
BY COMMITTEE ON COMMERCE,
REGULATION AND LABOR
(SUCCESSOR TO HSB 134)
Passed House, Date Passed Senate, Date
Vote: Ayes Nays Vote: Ayes Nays
Approved
A BILL FOR
1 An Act relating to the extension of credit without discrimination
2 under the consumer credit code.
3 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
4 TLSB 2260HV 80
5 jj/sh/8
PAG LIN
1 1 Section 1. Section 537.3311, Code 2003, is amended to read
1 2 as follows:
1 3 537.3311 DISCRIMINATION PROHIBITED.
1 4 A creditor shall not refuse to enter into a consumer credit
1 5 transaction or impose finance charges or other terms or
1 6 conditions more onerous than those regularly extended by that
1 7 creditor to consumers of similar economic backgrounds because
1 8 of the due to any of the following:
1 9 1. The age, color, creed, national origin, political
1 10 affiliation, race, religion, sex, marital status, or
1 11 disability of the consumer, or because the.
1 12 2. The consumer receives public assistance, social
1 13 security benefits, pension benefits, or the like, or because
1 14 of the.
1 15 3. The exercise by the consumer of rights pursuant to this
1 16 chapter or other provisions of law the federal Consumer Credit
1 17 Protection Act, 15 U.S.C. } 1601 et seq.
1 18 EXPLANATION
1 19 This bill amends Code section 537.3311, part of the Iowa
1 20 consumer credit code. Current Code language prohibits a
1 21 creditor from discriminating against a consumer in a consumer
1 22 credit transaction based on age, color, national origin, sex,
1 23 marital status, disability, public source of income, or the
1 24 exercise of consumer rights under the Iowa consumer credit
1 25 code or other provisions of law. The bill replaces the final
1 26 phrase with a specific reference to the federal Consumer
1 27 Credit Protection Act, which includes federal consumer laws on
1 28 such subjects as consumer credit cost disclosures, credit
1 29 reporting agencies, and debt collection practices, as well as
1 30 equal credit opportunity provisions prohibiting discrimination
1 31 in the granting of credit.
1 32 LSB 2260HV 80
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