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House approves tighter consumer protections and fee limits for debt‑management firms
Summary
House File 2326, as amended, allows dedicated debtor accounts, limits renegotiation fees, restores a fee cap raised to 30% and includes other consumer protections; amendment H8274 was adopted before the bill passed.
Representative Johnson opened debate on House File 2326, which modifies Iowa Code chapter 533A governing debt‑management services. He said the bill "authorizes the use of a bank account or a separate dedicated account for debtor funds" and described a fee framework intended to protect consumers while preserving options for negotiated debt relief.
An amendment (H8274) offered by Representative Lawler and explained by Johnson was adopted on the floor. Representative McBurnie urged support, saying the amendment "puts back in a lot of consumer protections and ensures that we are looking at Iowans first and not the businesses". The House passed HF 2326 as amended (recorded vote: 90 ayes, 2 no, 8 absent/not voting).
