FL S0626

Authorizes the Office of Financial Regulation to deny licenses or take disciplinary action against consumer finance lenders, title loan lenders, and money services businesses that violate the federal Military Lending Act (10 U.S.C. s. 987) or its implementing regulations

Adds violations of the Military Lending Act as prohibited acts for title loan lenders and their agents or employees

Grants the Office of Financial Regulation authority to investigate financial institutions, subsidiaries, service corporations, and affiliates for potential Military Lending Act violations

Applies to consumer credit transactions or accounts established on or after October 3, 2016, with a delayed application for certain credit card accounts until their exemption expires

Takes effect October 3, 2016