Iowa

The relevant statute is the Iowa Consumer Credit Code, §§537.1101 et seq. ("IA-UCCC").

A. Actions creditor may take: IA-UCCC §537.2506(1) - If buyer has covenanted to insure the vehicle and fails to do so, creditor may pay for insurance and add the amount paid to the debt owed.

B. Notices required: IA-UCCC §537.2506(1) - Creditor must provide, within a reasonable time, a written notice setting forth the amount advanced, any related charges, a revised payment schedule and a brief description of the coverage.

C. Charges permitted: IA-UCCC §537.2506(1) - By implication, the notice provision may allow additional charges.

D. Finance charge allowed on creditor's payment: Yes. IA-UCCC §537.2506(2) - The rate

charged may not exceed the rate required to be disclosed under the federal Truth in Lending Act.

Click here to view relevant Iowa Code and Regulations.