The Iowa Division of Banking has issued a proposed rule to formally adopt existing corporate application fees for banks into its administrative rules. This action, identified as HF 688, follows a public hearing held on December 13, 2023, and the completion of a final regulatory analysis. The proposed rule specifically aims to codify the fees currently charged for various bank corporate activities, including the establishment of new bank offices, mergers, and amendments to articles of incorporation.

This proposed rule represents a formalization of existing practices, ensuring clarity and consistency in fee structures for banks operating within Iowa. Regulated entities, specifically banks, should review the proposed rule and the associated regulatory analysis to understand the specific fees applicable to their corporate actions. While this is a proposal, it is expected to be adopted, and banks should ensure their fee payment processes align with these codified requirements. No specific compliance deadline is mentioned beyond the rulemaking process itself, but awareness of the codified fees is crucial for future applications.