A bill for an act relating to interest rates and charges on regulated loans, and consumer credit transaction service charges.(Formerly SSB 3065.)

This bill changes how interest rates and service charges are calculated for certain loans in Iowa. It removes the ability of the superintendent of banking to investigate and set maximum interest rates for regulated loans, instead setting a flat rate of 3% per month for all regulated loans. Additionally, the maximum service charge for consumer credit transactions will change from the lesser of 10% of the amount financed or $30, to the lesser of 3% of the amount financed or $100.

No official summary on file for this bill · generated by Gemini 2.5 Flash from its full text