florida

Three Members of Congress and U.S. Treasury Express Concerns that Florida Law Prohibiting Banks from Considering Customers’ Business Sectors or Political or Religious Beliefs Conflicts with Federal AML/CFT Requirements

By Kristen E. Larson & Peter D. Hardy on July 30, 2024

Posted in Risk Assessment, State regulation

As we previously blogged, a Florida law (Fla. Stat. § 655.0323, entitled “Unsafe and unsound practices”) which became effective July 1, 2024 prohibits federal and state depository institutions conducting business in the state from denying services based on religion or political beliefs and activities. Every year, financial institutions must attest to their compliance with the Florida law.… Continue Reading

Predatory Loan Prevention Bill Introduced in Florida to Codify “True Lender” Analysis

By John L. Culhane, Jr., Ronald K. Vaske & Mindy Harris on November 15, 2023

Posted in Preemption, Regulatory and Enforcement, State Licensing, Usury

Florida SB 146, a bill that would add a “Predatory loan prevention” section to the Florida Consumer Finance Act has been introduced in the Florida Senate, seeking to curb bank-model lending programs and codify a “true lender” analysis with language similar to legislation enacted in Minnesota and other states within the past three years.… Continue Reading

Florida Governor signs bill limiting use of automated dialing systems; new law effective July 1

By Jenny N. Perkins on July 1, 2021

Posted in Regulatory and Enforcement, State regulation, Telemarketing

On June 29, Florida Governor DeSantis signed into law CS/SB 1120 which amends Florida law to impose new limits on the use of “automatic dialers.” The law is effective today, July 1.

The new law prohibits the use of an “automated system” to make “telephonic sales call” without the prior express written consent of the “called party.” … Continue Reading

CFPB and Florida AG obtain judgments against foreclosure relief companies

By Barbara S. Mishkin on June 1, 2015

Posted in CFPB Enforcement, Regulatory and Enforcement

The CFPB announced that, together with the Florida AG, it has obtained judgments against several Florida companies and their individual operators who were charged in a complaint filed in a Florida federal court with using deceptive marketing practices and collecting illegal advance fees from consumers seeking mortgage relief services. A default judgment entered against the companies and stipulated judgments entered against the individuals provide for a judgment against each defendant for equitable monetary relief in the amount of $11,730,579, representing the amount of illegal fees allegedly paid by consumers. … Continue Reading