Bill
Bill > SSB3086
IA SSB3086
IA SSB3086A bill for an act relating to consumer fraud and unlawful practices, including digital financial asset transaction kiosks, and providing civil penalties.(See SF 2296.)
summary
Introduced
01/27/2026
01/27/2026
In Committee
01/27/2026
01/27/2026
Crossed Over
Passed
Dead
05/03/2026
05/03/2026
Introduced Session
91st General Assembly
Bill Summary
This bill relates to consumer fraud and unlawful practices, including digital financial asset transaction kiosks, and provides civil penalties. The bill strikes existing enforcement and civil penalty provisions that authorize the attorney general to bring civil actions, seek injunctions and civil penalties, and enforce compliance for violations of Code section 533C.1004 (digital financial asset transaction kiosks). Instead, the bill provides that a violation of Code section 533C.1004 constitutes an unlawful practice under Code section 714.16 (consumer frauds), and subjects such violations to the remedies and enforcement provisions available under that section. The bill specifies that, notwithstanding the civil penalty limits in Code section 714.16, if the attorney general has reasonable belief that a person is in violation of an injunction issued under Code section 714.16, the attorney general may bring a civil action to seek a civil penalty of up to $100,000 for a violation of the injunction. Under current law, the attorney general may request and the court may impose a civil penalty not to exceed $40,000 per violation for unlawful methods, acts, or practices under Code section 714.16, but a course of conduct affecting more than one person is not treated as separate violations. The bill strikes this limitation regarding the treatment of a course of conduct affecting more than one person.
AI Summary
This Study Bill modifies how violations related to digital financial asset transaction kiosks are handled under consumer protection laws. Previously, specific rules and penalties applied to these kiosks, allowing the Attorney General to bring civil actions, seek injunctions, and impose penalties up to $10,000 per violation. This bill removes those specific provisions and instead declares violations of the digital financial asset transaction kiosk law as general unlawful practices under the state's broader consumer fraud statute (Section 714.16). This means these violations will now be subject to the remedies and enforcement mechanisms already in place for general consumer fraud, including the potential for higher civil penalties. Notably, the bill increases the maximum civil penalty for violating an injunction related to these practices to $100,000, and it removes a previous limitation that prevented a repeated course of conduct affecting multiple people from being treated as separate violations, thereby allowing for potentially more significant penalties in cases of widespread harm.
Committee Categories
Business and Industry
Sponsors (0)
No sponsors listed
Other Sponsors (1)
Technology (Senate)
Last Action
Committee report approving bill, renumbered as SF 2296. (on 02/11/2026)
Bill Topics
Banking, Finance, and Domestic Commerce
- ‐ Banking System and Financial Institution Regulation and Reform
- ‐ Consumer Safety and Consumer Fraud
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://www.legis.iowa.gov/legislation/BillBook?ga=91&ba=SSB3086 | 01/27/2026 |
| BillText | https://www.legis.iowa.gov/docs/publications/LGI/91/attachments/SSB3086.html | 01/27/2026 |
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