All Roll Calls
Yes: 143 • No: 0
IowaHF 85791st General Assembly (2025–2026)HouseWALLET
A bill for an act relating to solicitation by a financial institution using prescreened trigger lead information from a consumer report. (Formerly HSB 150.) Effective date: 07/01/2025.
Sponsored By: COMMITTEE ON COMMERCE
Signed by Governor
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Bill Overview
Analyzed Economic Effects
2 provisions identified: 2 benefits, 0 costs, 0 mixed.
Stronger rules on mortgage sales calls
Beginning July 1, 2025, lenders and brokers must follow new rules when they contact you using mortgage trigger lead data. In the first message, they must clearly say they are not your original lender. They must follow state and federal prescreen rules and make a firm offer of credit when required. They may not use your data if you opted out of prescreened offers or are on the federal do-not-call list. They may not bait-and-switch by changing the rates, terms, or costs to your harm. Violations are unlawful practices under Iowa consumer protection law.
Which mortgage lenders and data are covered
Beginning July 1, 2025, the law defines who must follow these rules and what data counts. Consumer report has the same meaning as under the federal Fair Credit Reporting Act. Financial institution includes mortgage brokers, mortgage lenders, consumer loan lenders, and anyone in Iowa who lends money. A mortgage trigger lead is a consumer report issued after a mortgage credit inquiry. It does not include reports from the lender you first applied with or the company that holds or services your current credit.
Sponsors & Cosponsors
Sponsor
COMMITTEE ON COMMERCE
Affiliation unavailable
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
Senate vote • 4/9/2025
Passed Senate
Yes: 47 • No: 0
House vote • 3/19/2025
Passed House
Yes: 96 • No: 0
Actions Timeline
Signed by Governor.
4/18/2025GovernorReported correctly enrolled, signed by Speaker and President, and sent to Governor.
4/17/2025SenateMessage from Senate.
4/10/2025SenateImmediate message.
4/9/2025legislaturePassed Senate, yeas 47, nays 0.
4/9/2025SenateSubstituted for SF 587.
4/9/2025legislaturePlaced on calendar under unfinished business.
4/3/2025legislatureRead first time, attached to SF 587.
3/20/2025legislatureMessage from House.
3/20/2025HouseImmediate message.
3/19/2025legislaturePassed House, yeas 96, nays 0.
3/19/2025HouseIntroduced, placed on calendar.
3/7/2025legislature
Bill Text
As Introduced
Enrolled
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