IA HF2329

Establishes a flat maximum interest rate of 3% per month on all regulated loans, replacing the previous tiered structure that charged different rates based on loan balance amounts ($150, $300, $700 thresholds)

Removes the superintendent's authority to set varying interest rates over time, which had been in place since July 4, 1965

Strikes subsections 1, 2, and 3 of Section 536.13 and removes paragraph (a) of subsection 7 from Iowa Code 2026

Modifies consumer credit transaction service charges from "the lesser of 10% or $30" to "either 3% of the amount financed or $100"

Passed by the Iowa House on March 12, 2026, as a successor bill to HSB 524