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On November 19, 2025, Iowa lawmakers passed a new bill aimed at strengthening consumer protections in the banking industry. The bill, known as the Consumer Banking Protection Act, includes a number of provisions designed to increase transparency and accountability in the state's banking sector.One of the key provisions of the bill is the establishment of a Consumer Financial Protection Bureau (CFPB) within the Iowa Department of Banking. The CFPB will be tasked with monitoring and regulating the state's banking industry to ensure that consumers are being treated fairly and that their rights are being protected.In addition, the bill includes new requirements for banks to disclose fees and charges to consumers in a clear and transparent manner. Banks will also be required to provide customers with a summary of their rights and responsibilities when opening a new account or taking out a loan.The bill also aims to crack down on predatory lending practices by requiring banks to conduct thorough assessments of a borrower's ability to repay before issuing a loan. This provision is intended to prevent borrowers from falling into a cycle of debt that they cannot afford to repay.Furthermore, the bill includes provisions aimed at increasing access to banking services for underserved communities in Iowa. Banks will be required to open branches in low-income areas and offer products and services tailored to the needs of these communities.Overall, the Consumer Banking Protection Act represents a significant step towards ensuring that consumers in Iowa are protected from unfair and predatory practices in the banking industry. Lawmakers hope that the new regulations will help to restore trust and confidence in the state's banking sector and provide greater financial security for all Iowa residents.