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IA HF727

Bill

Official Source

Status

Introduced

3/4/2025

Primary Sponsor

Jeff Cooling

Click for details

Origin

House of Representatives

91st General Assembly

AI Summary

  • Reduces the maximum finance charge on consumer credit sales from 21% to 10% per year on the unpaid balance of the amount financed
  • Applies the 10% cap to consumer credit sales both with and without open-end credit arrangements
  • Amends Iowa Code sections 537.2201 and 537.2202 governing consumer credit sale finance charges

Legislative Description

A bill for an act relating to the maximum finance charge on a consumer credit sale.

Last Action

Introduced, referred to Commerce. H.J. 491.

3/4/2025

Committee Referrals

Commerce3/4/2025

Full Bill Text

No bill text available