FL S0146

Creates section 516.181, F.S., titled "Predatory Loan Prevention," prohibiting any person from using devices, subterfuge, or pretense to evade Florida's consumer finance loan requirements under Chapter 516

Prohibits making, offering, or arranging consumer finance loans with interest rates or charges exceeding those authorized by Chapter 516, regardless of the method used (mail, telephone, internet) or whether the person has a physical location in Florida

Declares any consumer finance loan made in violation of these provisions void and uncollectible as to all principal, fees, interest, charges, and payments

Establishes a "true lender" doctrine deeming a person to be the lender subject to these prohibitions if they hold the predominant economic interest, risk, or reward in the loan, even if they claim to act as an agent or service provider for an entity exempt from Chapter 516

Provides a totality-of-the-circumstances test for identifying the true lender, weighing factors such as whether the person indemnifies the exempt entity, controls the loan program, holds related intellectual property, or acts as a direct lender in other states; effective date of July 1, 2024