FL H0555

Amends section 560.404, Florida Statutes to cap interest, fees, and charges that deferred presentment providers may charge at 36 percent per annum on the principal amount.

Includes ancillary products or services in the fee calculation if they exceed 10 percent of the currency or payment instrument provided, with verification fees exempted from this cap.

Restricts deferred presentment providers to charging only the interest, fees, and other charges specifically authorized in statute, prohibiting additional unauthorized charges.

Reenacts section 560.111(5) to maintain the felony of the third degree penalty for willfully violating deferred presentment transaction requirements.

Effective date: July 1, 2018.