FL S0522

Revises the maximum interest, fees, and charges that deferred presentment providers may charge, collect, or receive in a transaction to 30 percent per annum (increased from 10 percent).

Includes ancillary products or services incident to or included in the deferred presentment transaction within the 30 percent annual rate cap.

Specifies that providers cannot directly or indirectly charge amounts exceeding the 30 percent annual limit, and may only charge fees specifically authorized by law.

Removes the previous exception for verification fees and the exclusion of verification fees from the 10 percent rate cap.

Takes effect July 1, 2017.