CHAPTER 537
CONSUMER CREDIT CODE
The general assembly of the state of Iowa hereby declares and states that it does not want any of the provisions
of Public Law No. 96-221 (94 stat. 132), section 501, subsection (a), paragraph (1), to apply
with respect to loans, mortgages, credit sales, and advances made in this state;
and that it does not want any of the provisions of Public Law No. 96-221 (94 stat. 132),
Part B (section 511, subsections (a) and (b)), to apply with respect to loans made in this state;
and that it does not want any of the provisions of any of the amendments contained in Public Law No. 96-221
(94 stat. 132), sections 521, 522 and 523 to apply with respect to loans made in this state;
and that it does not want any of the provisions of Public Law No. 96-221 (94 stat. 132),
section 524 to apply with respect to loans made in this state.
It is the intent of the general assembly of the state of Iowa in enacting this section
to exercise all authority granted by Congress and to satisfy all requirements imposed by Congress
in Public Law No. 96-221 (94 stat. 132), section 501, subsection (b), paragraph (2),
and section 512, and section 524, subsection (i), paragraph (3), and section 525,
for the purpose of rendering the provisions of Public Law No. 96-221 (94 stat. 132), Title V,
inapplicable in this state. [80 Acts, ch 1156, § 32]
Referred to in § 261.37, 321I.5, 524.227, 533.37, 534.208, 534.409,
535.2, 535.10, 535.11, 536.13, 536.29, 536A.29, 536A.31, 536C.6,
536C.7, 536C.11, 537.6203, 552.17, 669.14
ARTICLE 1
GENERAL PROVISIONS AND DEFINITIONS
PART 1
SHORT TITLE, CONSTRUCTION, GENERAL PROVISIONS
537.1101 Short title.
537.1102 Purposes--rules of construction.
537.1103 Law applicable.
537.1104 Construction.
537.1105 and 537.1106 Reserved.
537.1107 Waiver--agreement--settlement.
537.1108 Effect on organizations.
537.1109 Reserved.
537.1110 Obligation of good faith.
PART 2
SCOPE AND JURISDICTION
537.1201 Territorial application.
537.1202 Exclusions.
537.1203 Jurisdiction--service of process.
PART 3
DEFINITIONS
537.1301 General definitions.
537.1302 Definition--Truth in Lending Act.
537.1303 Other defined terms.
ARTICLE 2
FINANCE CHARGES AND RELATED PROVISIONS
PART 1
GENERAL PROVISIONS
537.2101 Short title.
537.2102 Scope.
PART 2
CONSUMER CREDIT SALES:
MAXIMUM FINANCE CHARGES
537.2201 Finance charge for consumer credit sales not pursuant to open end credit.
537.2202 Finance charge for consumer credit sales pursuant
to open end credit.
PART 3
CONSUMER LOANS: SUPERVISED LOANS
537.2301 Authority to make supervised loans.
537.2302 Reserved.
537.2303 Revocation or suspension of license.
537.2304 Records--annual reports.
537.2305 Examinations and investigations.
537.2306 Reserved.
537.2307 Restrictions on interest in land as security.
537.2308 Regular schedule of payments--maximum loan term.
537.2309 No other business for purpose of evasion.
537.2310 Conduct of business other than making loans.
PART 4
CONSUMER LOANS: MAXIMUM FINANCE CHARGES
537.2401 Finance charge for consumer loans not pursuant to open end credit.
537.2402 Finance charge for consumer loans pursuant to open end credit.
PART 5
CONSUMER CREDIT TRANSACTIONS:
OTHER CHARGES AND MODIFICATIONS
537.2501 Additional charges.
537.2502 Delinquency charges.
537.2503 Deferral charges.
537.2504 Finance charge on refinancing.
537.2505 Finance charge on consolidation.
537.2506 Advances to perform covenants of consumer.
537.2507 Attorney's fees.
537.2508 Conversion to open end
credit.
537.2509 Right to prepay.
537.2510 Rebate upon prepayment.
PART 6
OTHER CREDIT TRANSACTIONS
537.2601 Charges for other credit transactions.
537.2602 Repealed
by 79 Acts, ch 130, §30.
ARTICLE 3
REGULATION OF AGREEMENTS AND PRACTICES
PART 1
GENERAL PROVISIONS
537.3101 Short title.
537.3102 Scope.
PART 2
DISCLOSURE
537.3201 Compliance with Truth in Lending Act.
537.3202 Consumer leases.
537.3203 Notice to consumer.
537.3204 Notice of assignment.
537.3205 Change in terms of open-end credit accounts.
537.3206 Receipt--statements of account--evidence of payment.
537.3207 Form of insurance premium loan agreement.
537.3208 Notice to cosigners and similar parties.
537.3209 Advertising.
537.3210 Prohibited statements relating to rates.
537.3211 Notice of consumer paper.
537.3212 Notice of methods of financing and rates.
PART 3
LIMITATIONS ON AGREEMENTS AND PRACTICES
537.3301 Security in consumer credit transactions.
537.3302 Cross-collateral.
537.3303 Debt secured by cross-collateral.
537.3304 Use of multiple agreements.
537.3305 No assignment of earnings.
537.3306 Authorization to confess judgment prohibited.
537.3307 Certain negotiable instruments prohibited.
537.3308 Balloon payments.
537.3309 Referral sales and leases.
537.3310 Limitations on executory transactions.
537.3311 Discrimination prohibited.
PART 4
LIMITATIONS ON CONSUMER'S LIABILITY
537.3401 Restriction on liability in consumer lease.
537.3402 Limitation on default charges.
537.3403 Card issuer subject to claims and defenses.
537.3404 Assignee subject to claims and defenses.
537.3405 Lender subject to defenses arising from sales and leases.
PART 5
HOME SOLICITATION SALES
537.3501 Door-to-door sales.
PART 6
CONSUMER RENTAL PURCHASE AGREEMENTS
537.3601 Short title.
537.3602 Purposes--rules of
construction.
537.3603 Exclusions.
537.3604 General definitions.
537.3605 Disclosures.
537.3606 Form requirements.
537.3607 Receipts.
537.3608 Acquiring ownership.
537.3609 Renegotiation.
537.3610 Balloon payments
prohibited.
537.3611 Prohibited charges.
537.3612 Additional charges.
537.3613 Reinstatement fees.
537.3614 Taxes and official fees.
537.3615 Advertising.
537.3616 Lessee's reinstatement
rights.
537.3617 Unconscionability.
537.3618 Default.
537.3619 Cure of default.
537.3620 Willful and intentional violations.
537.3621 Damages.
537.3622 Effect of correction.
537.3623 Statute of limitations.
537.3624 Enforcement.
ARTICLE 4
INSURANCE
537.4101 Scope--excess charges.
ARTICLE 5
REMEDIES AND PENALTIES
PART 1
LIMITATIONS ON CREDITORS' REMEDIES
537.5101 Short title.
537.5102 Scope.
537.5103 Creditor's obligations on repossession--restriction on deficiency
judgments.
537.5104 No garnishment before judgment.
537.5105 Limitation on garnishment.
537.5106 Garnishment.
537.5107 Extortionate or unlawful extensions of credit.
537.5108 Unconscionability--inducement by unconscionable
conduct--unconscionable debt collection.
537.5109 Default.
537.5110 Cure of default.
537.5111 Notice of right to cure.
537.5112 Reserved.
537.5113 Venue.
537.5114 Complaint--proof.
537.5115 Reserved.
PART 2
CONSUMERS' REMEDIES
537.5201 Effect of violations on rights of parties.
537.5202 Damages or penalties as setoff to obligation.
537.5203 Civil liability for violation of disclosure provisions.
PART 3
CRIMINAL PENALTIES
537.5301 Willful violations.
537.5302 Disclosure violations.
ARTICLE 6
ADMINISTRATION
PART 1
POWERS AND FUNCTIONS OF ADMINISTRATOR
537.6101 Short title.
537.6102 Applicability.
537.6103 Administrator.
537.6104 Powers of administrator--reliance on rules--duty to report.
537.6105 Administrative powers with respect to supervised financial
organizations and supervised loan licensees.
537.6106 Investigatory powers.
537.6107 Reserved.
537.6108 Administrative enforcement orders.
537.6109 Assurance of discontinuance.
537.6110 Injunctions and other proceedings in equity.
537.6111 Injunctions against unconscionable agreements and fraudulent
or unconscionable conduct.
537.6112 Temporary relief.
537.6113 Civil actions by administrator.
537.6114 Reserved.
537.6115 Consumer's remedies not affected.
537.6116 Venue.
537.6117 Administrative rules.
PART 2
NOTIFICATION AND FEES
537.6201 Applicability.
537.6202 Notification.
537.6203 Fees.
537.6204 Repealed
by 76 Acts, ch 1212, §8.
ARTICLE 7
DEBT COLLECTION PRACTICES
537.7101 Short title.
537.7102 Definitions.
537.7103 Prohibited practices.
ARTICLE 8
CHECK CASHING PRACTICES
537.8101 Provision of credit card number as condition
of check cashing or acceptance prohibited.
_______
© 1999 Cornell College and
League of Women Voters of Iowa
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Last update: Thu Mar 18 15:00:31 CST 1999
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