FL S0116

Requires lenders and creditors licensed under Florida banking, loan, and insurance statutes to verify the identity of persons applying for loans, credit cards, or extensions of credit.

Creates a rebuttable presumption that a lender or creditor failed to verify identity if a subsequent determination shows an applicant knowingly and willfully used another individual's personal identifying information.

Establishes that when identity fraud is determined, the actual individual whose information was fraudulently used has no liability for the resulting debt in collection actions.

Applies to lenders and creditors licensed under Florida chapters 516, 520, 657, 658, 665, and part XV of chapter 627, as well as federally-licensed lenders operating in Florida.

Takes effect July 1, 2010.