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FL S0642
Bill
AI Summary
- Amends maximum charges for deferred presentment transactions from 10 percent of currency provided to 30 percent per annum on the principal amount
- Expands definition of chargeable fees to include interest, fees, and other charges directly or indirectly collected, inclusive of ancillary products or services incident to the transaction
- Removes exception allowing separate verification fees outside the maximum charge limit
- Requires deferred presentment providers to charge only those fees specifically authorized by statute
- Effective date: July 1, 2018
Legislative Description
Deferred Presentment Transactions
Last Action
Died in Banking and Insurance
3/10/2018
Committee Referrals
Banking and Insurance11/8/2017
Full Bill Text
No bill text available