Iowa legislation · 91st General Assembly
Iowa HF727: A BILL FOR An Act relating to the maximum finance charge on a consumer credit sale
Status: In committee, March 4, 2025
An Act relating to the maximum finance charge on a consumer credit sale.
What the bill says
A bill FOR An Act relating to the maximum finance charge on a consumer credit sale.
From the introduced text, March 4, 2025:
A BILL FOR An Act relating to the maximum finance charge on a consumer credit sale. BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: TLSB 1853YH (3) nls/ko H.F. Section 1. Section 537.2201, subsection 2, Code 2025, is amended to read as follows: 2. The finance charge, calculated according to the actuarial method, may not exceed twenty-one ten percent per year on the unpaid balances of the amount financed. Sec. 2. Section 537.2202, subsection 2, unnumbered paragraph 1, Code 2025, is amended to read as follows: For each billing cycle, a charge may be made which is a percentage of an amount not exceeding the greatest of the following, but in no case shall exceed ten percent per year on the unpaid balance of the amount financed: EXPLANATION The inclusion of this explanation does not constitute agreement with the explanation's substance by the members of the general assembly. This bill relates to the maximum finance charge for consumer credit sales. Under the bill, for consumer credit sales both pursuant to open-end credit and not pursuant to open-end credit, a finance charge may not exceed 10 percent per year on the unpaid balance of the amount financed. LSB 1853YH (3) -1- nls/ko 1/1
Sponsors
- Jeff Cooling (D, 77) · primary sponsor
- Ross Wilburn (D, 50)
- Lindsay James (D, 71)
- Elinor Levin (D, 89)
- Meyer (R)
- Bob Kressig (D, 75)
- Sean Bagniewski (D, 35)
- Mary Madison (D, 31)
- Ken Croken (D, 97)
- Rob Johnson (D, 34)
- Jr, Amos
- Megan Srinivas (D, 30)
Latest actions
- : Introduced, referred to Commerce. H.J. 491 .
Subjects: consumer credit
Common questions
- What is HF727?
- HF727 is a bill in the Iowa Legislature (91st General Assembly): A BILL FOR An Act relating to the maximum finance charge on a consumer credit sale.
- What does HF727 do?
- In its own words: A bill FOR An Act relating to the maximum finance charge on a consumer credit sale.
- What is the status of HF727?
- In committee as of March 4, 2025. Latest action: Introduced, referred to Commerce. H.J. 491 . (March 4, 2025).
- Who sponsored HF727?
- Jeff Cooling (D, 77), with 11 co-sponsors.
- Where is the official record for HF727?
- On the Iowa Legislature website: https://www.legis.iowa.gov/legislation/BillBook?ba=HF+0727&ga=91
Source: official Iowa record. Tracked by Delilah, AI for legislation across all 50 states and Congress.