FL S0260

Allows private schools to impose convenience fees on credit card payments for tuition and student fees, up to the amount charged by the credit card company, without it being considered a surcharge.

Modifies consumer finance loan regulations to prohibit lenders from paying referral compensation to third parties if that amount is charged directly or indirectly to the borrower.

Establishes that Florida's funds transfer law applies to remittance transfers unless they are electronic fund transfers under federal law, with the federal Electronic Fund Transfer Act governing any inconsistencies.

Reduces the mortgage cancellation timeframe from 60 days to 45 days after the loan is fully paid, while exempting open-end mortgages and allowing them to be canceled upon written borrower notice within 45 days.

Takes effect July 1, 2016.