Signed by Governor Ron DeSantis

Vote Smart's Synopsis:

Vote to pass a bill that prohibits individuals from operating branches of business making consumer finance loans before receiving licenses in Florida.

Highlights:

• Prohibits a person from operating a branch of business making consumer finance loans before obtaining license (Sec. 1). 

• Amends maximum interest rates on consumer finance loans (Sec. 1). 

• Amends minimum amount of time before delinquency charge may be imposed (Sec. 1). 

• Requires licensees offering assistance programs to borrowers after federally declared major disaster to send notice to office (Sec. 1).

• Requires licensees to offer to borrowers credit education programs or seminars (Sec. 1). 

• Establishes requirements for licensee claiming submitted information contains trade secrets (Sec. 1). 

• Requires licensees to suspend actions for a certain time frame after a federally declared disaster (Sec. 1).

Full Bill Text