Iowa bill funds financial literacy and fights exploitation

A bill for an act relating to matters under the purview of the department of insurance and financial services including financial literacy and exploitation, tax confidentiality, health insurance rates, health savings accounts, insurer withdrawals, property insurance, and service contracts, and including penalties.

Introduced· 2025-02-26

Who's it for

Who's it for: Everyday People

What it means for you

7/10Helps you

Good for everyday people ·

Heavily fundedCost shift

Draft summary, still being checked against the official bill text. Read the source to confirm.

If passed, the bill would charge insurance agents a $40 fee and use the money to create education funds that teach people about money and protect them from scams.

Our take

What we think, in plain words.

People could get better money lessons and help if they are targeted by fraud, but agents might pass the $40 fee onto you, so watch the cost.

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The facts

What the bill actually says, no spin.

$40 fee for each insurance agent registration, renewal, or change.
$10 of each fee goes to a financial literacy fund and $10 to an exploitation prevention fund.
New funds can receive money from state appropriations, penalties, and grants.
Investigation files held by the department will be kept confidential unless released by the director.