FL S0590

Establishes that knowingly and willfully violating check cashing transaction information requirements under s. 560.310(2)(d) is a third-degree felony.

Authorizes the Office of Financial Regulation to summarily suspend a money services business license if a natural person required on the license application is criminally charged with or arrested for crimes specified in the statute.

Voids any deferred presentment transaction conducted by an unauthorized person, preventing the unauthorized person from collecting, receiving, or retaining any principal, interest, or charges related to the transaction.

Updates multiple cross-references to federal regulations from 31 C.F.R. Part 103 to 31 C.F.R. Parts 1010 and 1022 regarding record retention, anti-money laundering programs, and suspicious activity reporting requirements.

Takes effect July 1, 2014.