The civic record
Read. Follow. Verify.Iowa sets regulated loan interest at 3 percent per month and adjusts consumer credit service charges
Last action · May 2, 2026: Signed by Governor . H.J. 1160 .
Track this bill to get notified when it advances a stage. One tap to stop, anytime.
What This Bill Does
Senate File 2216 sets the maximum interest rate for s at a flat 3 percent per month and revises service charges to the lesser of 3 percent of the amount financed or $100.
Borrowers face a fixed 3 percent monthly interest rate on s and a revised service charge limit of up to $100 on s.
- Senate File 2216 originated as Senate Study Bill 3065 within the Senate Committee on Commerce during the 91st General Assembly of Iowa. context
Who It Affects
Groups the bill's text affects, as described in the record. Being affected is not a position for or against it.
Borrowers
Borrowers are subject to a flat 3 percent monthly interest rate on regulated loans and revised service charge limits on consumer credit transactions.
Lenders
Lenders must calculate interest and consumer credit service charges according to the new statutory caps rather than rates fixed by the superintendent.
Key Facts
- The bill strikes subsections 1, 2, and 3 of section 536.13, Code 2026, removing provisions related to the superintendent of banking's investigations and authority to redetermine maximum interest rates.
- The maximum rate of interest or charges upon regulated loans is established at 3 percent per month.
- A licensee may lend money up to the threshold amount defined in section 537.1301 and charge interest at rates determined under section 536.13 for amounts in excess of ten thousand dollars.
- Section 537.2501, subsection 1, paragraph l, is amended to set the consumer credit transaction service charge at the lesser of 3 percent of the amount financed or one hundred dollars.
Frequently Asked Questions
What is the new maximum interest rate for regulated loans under the bill?
How do consumer credit transaction service charges change?
What else do you want to know?
News Coverage
Follow the record
Votes, people, money & the original sourceWhere This Stands
Current status: Signed into law.
Procedural history
36 actions- May 2, 2026HouseEnrolledSigned by Governor . H.J. 1160 .
- May 2, 2026HouseReported correctly enrolled, signed by Speaker and President, and sent to Governor. H.J. 1160 .
- Apr 7, 2026HouseMessage from Senate. H.J. 823 .
- Apr 7, 2026SenateImmediate message. S.J. 736 .
- Apr 7, 2026SenateFloorPassed Senate , yeas 34, nays 11. S.J. 735 .
- Apr 7, 2026SenateSubstituted for SF 2216 . S.J. 735 .
Show 30 earlier actions
- Apr 7, 2026SenateWithdrawn. S.J. 736 .
- Apr 7, 2026SenateHF 2329 substituted. S.J. 735 .
- Mar 19, 2026SenatePlaced on calendar under unfinished business. S.J. 599 .
- Mar 19, 2026SenatePlaced on calendar under unfinished business. S.J. 599 .
- Mar 16, 2026SenateIntroducedRead first time, attached to SF 2216 . S.J. 574 .
- Mar 16, 2026HouseMessage from House. S.J. 574 .
- Mar 16, 2026SenateAttached to HF 2329 . S.J. 574 .
- Mar 12, 2026HouseImmediate message. H.J. 666 .
- Mar 12, 2026HouseFloorPassed House , yeas 62, nays 29. H.J. 648 .
- Mar 12, 2026HouseFloorAmendment H-8196 adopted. H.J. 648 .
- Mar 12, 2026HouseMotion to suspend rules failed. H.J. 648 .
- Mar 12, 2026HouseMotion to suspend rules for immediate consideration of amendment H-8199 , yeas 28, nays 63. H.J. 647 .
- Mar 12, 2026HousePoint of order raised on amendment H-8199 , ruled not germane. H.J. 647 .
- Mar 11, 2026HouseAmendment H-8199 filed. H.J. 637 .
- Mar 10, 2026HouseAmendment H-8196 filed. H.J. 633 .
- Feb 6, 2026HouseIntroducedIntroduced, placed on calendar. H.J. 227 .
- Feb 6, 2026Iowa LegislatureCommittee report approving bill, renumbered as HF 2329 .
- Feb 5, 2026SenateCommittee report, approving bill. S.J. 215 .
- Feb 5, 2026SenateIntroducedIntroduced, placed on calendar. S.J. 210 .
- Feb 4, 2026Iowa LegislatureCommittee report approving bill, renumbered as SF 2216 .
- Feb 4, 2026HouseCommittee vote: Yeas, 18. Nays, 5. Excused, 0. H.J. 207 .
- Feb 4, 2026HouseCommittee report, recommending passage. H.J. 207 .
- Jan 29, 2026Iowa LegislatureSubcommittee recommends amendment and passage.
- Jan 28, 2026Iowa LegislatureSubcommittee Meeting: 01/29/2026 1:00PM Room 217 Conference Room.
- Jan 22, 2026Iowa LegislatureSubcommittee: Webster, Gruenhagen, and Petersen.
- Jan 22, 2026Iowa LegislatureIntroducedIntroduced, referred to Commerce.
- Jan 14, 2026Iowa LegislatureSubcommittee recommends passage.
- Jan 13, 2026HouseSubcommittee Meeting: 01/14/2026 12:00PM House Lounge 2.
- Jan 13, 2026HouseSubcommittee: Barker, Bossman and Zabner. H.J. 71 .
- Jan 13, 2026HouseIntroducedIntroduced, referred to Commerce. H.J. 65 .
Version history
Only one version on file - nothing to compare yet. As later stages (committee substitute, engrossed, enrolled) are captured, the redline appears here.
View official text →Lobbying Activity
No state lobbying filings in our records match this bill. Federal lobbying reports (LDA) cover Congress, so they are not listed on state bills.
Full breakdown
Who this bill affects and the strongest case for and against it, written only from the bill’s own text.
Discoveries
Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.
Removal of Superintendent's Rate-Fixing Authority
The legislation removes the banking superintendent's authority to redetermine regulated loan interest rates and replaces it with a statutory flat rate.
Connected Entities
Sources
www.legis.iowa.gov
Analysis Score
0–100- Significance75How much this matters to a regular citizen
- Controversy40Intensity of disagreement among stakeholders
- Entertainment10Compellingness for a non-policy-wonk reader
- Buzz25Current news / social attention level
Publisher tools