Iowa 2023-2024 Regular Session

Iowa Senate Bill SSB3080

Introduced
1/17/24  
Introduced
1/17/24  

Caption

A bill for an act relating to bank utilization of filing services offered by the secretary of state.(See SF 2288, SF 2404.)

Impact

If enacted, SSB3080 would not only simplify the filing procedures for financial institutions but could also reflect a broader effort to modernize state banking operations. By allowing for extra services, the bill may facilitate a more responsive regulatory environment for banks, thus improving consumer access to banking services. Additionally, this move could foster greater competition among financial entities as they are equipped with better tools to comply with state regulations, while simultaneously ensuring that state oversight remains intact.

Summary

Senate Study Bill 3080 (SSB3080) introduces a set of amendments related to banking services offered by the secretary of state. The primary focus of the bill is to enhance the ability of banks to utilize filing services, which include expedited filing options and preclearance for document submissions. These changes are designed to streamline the process for banks that need to file documentation with the state, potentially reducing the wait times and improving efficiency in the handling of bank-related paperwork.

Contention

During discussions surrounding this bill, there might be points of contention regarding the implications of increased filing services. Some stakeholders may argue that while expedited services can reduce burdens on banks, they might also raise concerns about oversight and regulatory compliance. There could be a fear that the reliance on expedited services might lead to less thorough reviews of crucial documents, thereby impacting consumer protection. Opponents might highlight the need for a balance between operational efficiency and maintaining robust regulatory practices to safeguard public interests.

Companion Bills

IA SF2288

Replaced by A bill for an act relating to bank utilization of filing services offered by the secretary of state.(Formerly SSB 3080; See SF 2404.)

IA SF2404

Replaced by A bill for an act relating to bank utilization of filing services offered by the secretary of state.(Formerly SF 2288, SSB 3080.)

Previously Filed As

IA SF2404

A bill for an act relating to bank utilization of filing services offered by the secretary of state.(Formerly SF 2288, SSB 3080.)

IA SF2288

A bill for an act relating to bank utilization of filing services offered by the secretary of state.(Formerly SSB 3080; See SF 2404.)

IA SSB1034

A bill for an act relating to bank utilization of filing services offered by the secretary of state.(See SF 166.)

IA HSB70

A bill for an act relating to bank utilization of filing services offered by the secretary of state.(See HF 396.)

IA SSB1042

A bill for an act relating to bank utilization of filing services offered by the secretary of state.(See SF 425.)

IA HF396

A bill for an act relating to bank utilization of filing services offered by the secretary of state.(Formerly HSB 70.)

IA SF166

A bill for an act relating to bank utilization of filing services offered by the secretary of state. (Formerly SSB 1034.) Effective date: 07/01/2025.

IA SF425

A bill for an act relating to utilization of filing services offered by the secretary of state.(Formerly SSB 1042.)

IA SSB1003

A bill for an act providing for an expedited filing service for filers of business documents administered by the secretary of state, and providing fees.(See SF 285, SF 629.)

IA SSB3077

A bill for an act relating to points and fees charged on loans by mortgage bankers.(See SF 2287.)

Similar Bills

No similar bills found.