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The Florida Senate

HB 431: Office of Financial Regulation


Office of Financial Regulation; Authorizes Bureau of Financial Investigations within OFR to include law enforcement officers among its investigative personnel; revises requirements for loan originator, mortgage broker, & mortgage lender license applications & renewals; provides that impositions of fees by third-party agents or entities for certain purposes are violations of specified statutes; repeals Florida Commercial Collection Practices Act; authorizes office to waive specified examination requirements; provides circumstances under which compliance officers of money services businesses are responsible for acts of money services businesses, authorized vendors, & affiliated parties; requires licensees to notify office if licensees cease to maintain depository accounts; revises authorization for financial institutions in acquiring assets & liabilities of other financial institutions; revises limits on sales of assets by mutual financial institutions to stock financial institutions; revises requirements for deposit accounts of family trust companies & licensed family trust companies; revises requirements for international bank agencies & international branches. APPROPRIATION: $817,791

Effective Date: 10/1/2022
Last Action: 11/10/2021 House - Now in Insurance & Banking Subcommittee
Bill Text: PDF

Bill History

Date Chamber Action
10/28/2021 House • Filed
11/10/2021 House • Referred to Insurance & Banking Subcommittee
• Referred to State Administration & Technology Appropriations Subcommittee
• Referred to Commerce Committee
• Now in Insurance & Banking Subcommittee