This bill amends existing laws related to consumer fraud and unlawful practices, specifically addressing violations associated with digital financial asset transaction kiosks. It removes previous provisions that granted the attorney general the authority to bring civil actions for violations of Code section 533C.1004, which pertains to these kiosks. Instead, the bill establishes that violations of this section are considered unlawful practices under Code section 714.16, thereby allowing the attorney general to utilize the enforcement and remedy provisions available under that section. Notably, the bill introduces a new civil penalty structure, allowing the attorney general to seek penalties of up to $100,000 for violations of injunctions related to these unlawful practices.

Additionally, the bill modifies the existing civil penalty framework under Code section 714.16. It eliminates the limitation that a course of conduct affecting multiple individuals cannot be treated as separate violations, thereby enabling more robust enforcement against repeated unlawful practices. The attorney general can still request civil penalties not exceeding $40,000 per violation, but the removal of the previous limitation enhances the potential for accountability in cases of widespread consumer fraud. Overall, the bill aims to strengthen consumer protection measures and streamline the enforcement process for violations related to digital financial asset transaction kiosks.

Statutes affected:
Introduced: 533C.1004, 714.16