IA HF2326

Amends Iowa Code Section 533A.8 to allow debt management licensees to maintain either a separate bank trust account or a dedicated account for holding debtor payments intended for creditors.

Removes the prohibition on licensees receiving third-party consideration in connection with debt management services rendered to debtors.

Establishes new fee collection requirements for debt settlement programs: licensees may only collect fees after renegotiating at least one debt and after the debtor makes at least one payment under the resolution agreement.

Requires proportional fee structures for individually settled debts, ensuring fees charged bear the same ratio to total fees as the individual debt bears to total enrolled debt at program enrollment.

Exempts persons licensed for debt management under Section 533A.2 from debt settlement licensing requirements under Chapter 538A when acting within the scope of their debt management license.