VI. IN THE BIG EVENT YOU CAN FIND POTENTIAL CRIMINAL CONSEQUENCES ARISING FROM A BOUNCED PAY DAY LOAN CHECK, WOULD THREATENING ORIMPLYING A THREAT OFPROSECUTION BUT VIOLATE IOWA CODE § 537.7103 IF THE PAYDAY LOAN PROVIDER NEVER PRESSES CRIMINAL CHARGES?
Inasmuch because it’s our interpretation of Chap. 533D and 537 that default for a check loan will not implicate the unlawful procedure, threatening unlawful effects for non-payment of this loan would violate the Iowa business collection agencies ways Act. Iowa Code § 537.7103.
Nonetheless, in case it’s determined it would nevertheless not be permissible for the lender to routinely make such threats that it is theoretically possible to invoke the criminal process in connection with payday loans in some circumstances.
The possible for abusive collection methods that post-dated or deferred deposit checks are very well