Iowa § 535C.10 Remedies

Iowa Statutes

§ 535C.10 — Remedies

Iowa § 535C.10

Title XIIICOMMERCE

Ch. 535CLOAN BROKERS

This text of Iowa § 535C.10 (Remedies) is published on Counsel Stack Legal Research, covering Iowa primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Iowa Code § 535C.10 (2026).

Text

1.If a broker materially violates the loan brokerage agreement, the borrower may, upon written notice, void the agreement. In addition, the borrower may recover all moneys paid the broker, a penalty of twice the amount of the fee sought by the broker, other damages, and reasonable attorney fees. A material violation includes but is not limited to any of the following:

a.Making false or misleading statements relative to the agreement.

b.Failure to comply with the agreement or the obligations arising from the agreement.

c.Failure to either grant the borrower a loan or issue a credit card or diligently attempt to obtain a loan or credit card for the borrower.

d.Failure to comply with the requirements of this chapter.

e.Soliciting or obtaining, directly or indirectly, an advance fee.

2.

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1. If a broker materially violates the loan brokerage agreement, the borrower may, upon
written notice, void the agreement. In addition, the borrower may recover all moneys paid
the broker, a penalty of twice the amount of the fee sought by the broker, other damages,
and reasonable attorney fees. A material violation includes but is not limited to any of the
following:
a. Making false or misleading statements relative to the agreement.
b. Failure to comply with the agreement or the obligations arising from the agreement.
c. Failure to either grant the borrower a loan or issue a credit card or diligently attempt
to obtain a loan or credit card for the borrower.
d. Failure to comply with the requirements of this chapter.
e. Soliciting or obtaining, directly or indirectly, an advance fee.
2. A violation of this chapter is a violation of the Iowa consumer fraud Act, section 714.16.
3. Remediesunderthischapterareinadditiontootherremediesavailableinlaworequity.