Florida Senate - 2026                        COMMITTEE AMENDMENT
       Bill No. CS for CS for SB 540
       
       
       
       
       
       
                                Ì318308.Î318308                         
       
                              LEGISLATIVE ACTION                        
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       The Committee on Rules (Martin) recommended the following:
       
    1         Senate Amendment (with title amendment)
    2  
    3         Delete lines 149 - 1211
    4  and insert:
    5         (a) In accordance with s. 415.107, the department shall
    6  provide copies of all suspected financial exploitation reports
    7  received by the central abuse hotline pursuant to s. 415.1034
    8  from any financial institution as defined in s. 655.005(1),
    9  securities dealer as defined in s. 517.021(12), or investment
   10  adviser as defined in s. 517.021(20) to the Office of Financial
   11  Regulation within 15 days after receiving the report. The
   12  department may provide copies of any records generated as a
   13  result of such reports at the request of the Office of Financial
   14  Regulation within 15 days after such request.
   15         1. The Office of Financial Regulation may use the reports
   16  or records obtained as required or authorized in this subsection
   17  for any investigation, examination, or other action conducted
   18  pursuant to s. 20.121(3)(a)2., chapter 517, or chapter 655.
   19         2. Except as provided in this chapter and chapters 517 and
   20  655, all confidentiality provisions that apply to the department
   21  continue to apply to the records made available to the Office of
   22  Financial Regulation and its officials, employees, and agents
   23  under s. 415.107.
   24         (b)The department and the Office of Financial Regulation
   25  may enter into a memorandum of agreement that specifies how the
   26  Office of Financial Regulation, in the agency’s role as the
   27  regulator of financial services, may assist the department with
   28  effectively and efficiently conducting a protective
   29  investigation of any vulnerable adult financial exploitation
   30  report received by the central abuse hotline and, if the
   31  agencies enter into a memorandum of agreement, it must specify
   32  how such assistance will be implemented.
   33         Section 2. Paragraph (m) is added to subsection (3) of
   34  section 415.107, Florida Statutes, to read:
   35         415.107 Confidentiality of reports and records.—
   36         (3) Access to all records, excluding the name of the
   37  reporter which shall be released only as provided in subsection
   38  (6), shall be granted only to the following persons, officials,
   39  and agencies:
   40         (m) Any appropriate officials, employees, or agents of the
   41  Office of Financial Regulation who are responsible for
   42  conducting investigations, examinations, or other actions
   43  pursuant to s. 20.121(3)(a)2., chapter 517, or chapter 655.
   44         Section 3. Section 494.00123, Florida Statutes, is created
   45  to read:
   46         494.00123Information security programs.—
   47         (1)DEFINITIONS.—As used in this section, the term:
   48         (a)“Customer” means a person who seeks to obtain or who
   49  obtains or has obtained a financial product or service from a
   50  licensee.
   51         (b)“Customer information” means any record containing
   52  nonpublic personal information about a customer of a financial
   53  transaction, whether on paper, electronic, or in other forms,
   54  which is handled or maintained by or on behalf of the licensee
   55  or its affiliates.
   56         (c)“Cybersecurity event” means an event resulting in
   57  unauthorized access to, or disruption or misuse of, an
   58  information system or customer information stored on such
   59  information system. The term does not include the unauthorized
   60  acquisition of encrypted customer information if the encryption
   61  process or key is not also acquired, released, or used without
   62  authorization. The term does not include an event with regard to
   63  which the licensee has determined that the customer information
   64  accessed by an unauthorized person has not been used or released
   65  and has been returned or destroyed.
   66         (d)“Encrypted” means the transformation of data into a
   67  form that results in a low probability of assigning meaning
   68  without the use of a protective process or key.
   69         (e)“Financial product or service” means any product or
   70  service offered by a licensee under this chapter.
   71         (f)“Information security program” means the
   72  administrative, technical, or physical safeguards used to
   73  access, collect, distribute, process, protect, store, use,
   74  transmit, dispose of, or otherwise handle customer information.
   75         (g)“Information system” means a discrete set of electronic
   76  information resources organized for the collection, processing,
   77  maintenance, use, sharing, dissemination, or disposition of
   78  electronic information, as well as any specialized system such
   79  as an industrial process control system, telephone switching and
   80  private branch exchange system, or environmental control system,
   81  which contain customer information or which are connected to a
   82  system that contains customer information.
   83         (h)1.“Nonpublic personal information” means:
   84         a.Personally identifiable financial information; and
   85         b.Any list, description, or other grouping of customers
   86  which is derived using any personally identifiable financial
   87  information that is not publicly available, such as account
   88  numbers, including any list of individuals’ names and street
   89  addresses which is derived, in whole or in part, using
   90  personally identifiable financial information that is not
   91  publicly available.
   92         2.The term does not include:
   93         a.Publicly available information, except as included on a
   94  list, description, or other grouping of customers described in
   95  sub-subparagraph 1.b.;
   96         b.Any list, description, or other grouping of consumers,
   97  or any publicly available information pertaining to such list,
   98  description, or other grouping of consumers, which is derived
   99  without using any personally identifiable financial information
  100  that is not publicly available; or
  101         c.Any list of individuals’ names and addresses which
  102  contains only publicly available information, is not derived, in
  103  whole or in part, using personally identifiable financial
  104  information that is not publicly available, and is not disclosed
  105  in a manner that indicates that any of the individuals on the
  106  list is a customer of a licensee.
  107         3.As used in this paragraph, the term:
  108         a.(I)“Personally identifiable financial information” means
  109  any information that:
  110         (A)A customer provides to a licensee to obtain a financial
  111  product or service, such as information that a customer provides
  112  to a licensee on an application to obtain a loan or other
  113  financial product or service;
  114         (B)A licensee receives about a consumer which is obtained
  115  during or as a result of any transaction involving a financial
  116  product or service between the licensee and the customer, such
  117  as information collected through an information-collecting
  118  device from a web server; or
  119         (C)A licensee otherwise obtains about a customer in
  120  connection with providing a financial product or service to the
  121  customer, such as the fact that an individual is or has been one
  122  of the licensee’s customers or has obtained a financial product
  123  or service from the licensee.
  124         (II)The term “personally identifiable financial
  125  information” does not include:
  126         (A)A list of names and addresses of customers of an entity
  127  that is not a financial institution; or
  128         (B)Information that does not identify a customer, such as
  129  blind data or aggregate information that does not contain
  130  personal identifiers such as account numbers, names, or
  131  addresses.
  132         b.(I)“Publicly available information” means any
  133  information that a licensee has a reasonable basis to believe is
  134  lawfully made available to the general public from:
  135         (A)Federal, state, or local government records, such as
  136  government real estate records or security interest filings;
  137         (B)Widely distributed media, such as information from a
  138  telephone records repository or directory, a television or radio
  139  program, a newspaper, a social media platform, or a website that
  140  is available to the general public on an unrestricted basis. A
  141  website is not restricted merely because an Internet service
  142  provider or a site operator requires a fee or a password, so
  143  long as access is available to the general public; or
  144         (C)Disclosures to the general public which are required to
  145  be made by federal, state, or local law.
  146         (II)As used in this sub-subparagraph, the term “reasonable
  147  basis to believe is lawfully made available to the general
  148  public” relating to any information means that the person has
  149  taken steps to determine:
  150         (A)That the information is of the type that is available
  151  to the general public, such as information included on the
  152  public record in the jurisdiction where the mortgage would be
  153  recorded; and
  154         (B)Whether an individual can direct that the information
  155  not be made available to the general public and, if so, the
  156  customer to whom the information relates has not done so, such
  157  as when a telephone number is listed in a telephone directory
  158  and the customer has informed the licensee that the telephone
  159  number is not unlisted.
  160         (i)“Third-party service provider” means a person, other
  161  than a licensee, which contracts with a licensee to maintain,
  162  process, or store nonpublic personal information, or is
  163  otherwise permitted access to nonpublic personal information
  164  through its provision of services to a licensee.
  165         (2)INFORMATION SECURITY PROGRAM.—
  166         (a)Each licensee shall develop, implement, and maintain a
  167  comprehensive written information security program that contains
  168  administrative, technical, and physical safeguards for the
  169  protection of the licensee’s information system and nonpublic
  170  personal information.
  171         (b)Each licensee shall ensure that the information
  172  security program meets all of the following criteria:
  173         1.Be commensurate with the following measures:
  174         a.Size and complexity of the licensee.
  175         b.Nature and scope of the licensee’s activities, including
  176  the licensee’s use of third-party service providers.
  177         c.Sensitivity of nonpublic personal information that is
  178  used by the licensee or that is in the licensee’s possession,
  179  custody, or control.
  180         2.Be designed to do all of the following:
  181         a.Protect the security and confidentiality of nonpublic
  182  personal information and the security of the licensee’s
  183  information system.
  184         b.Protect against threats or hazards to the security or
  185  integrity of nonpublic personal information and the licensee’s
  186  information system.
  187         c.Protect against unauthorized access to or the use of
  188  nonpublic personal information and minimize the likelihood of
  189  harm to any customer.
  190         3.Define and periodically reevaluate the retention
  191  schedule and the mechanism for the destruction of nonpublic
  192  personal information if retention is no longer necessary for the
  193  licensee’s business operations or is no longer required by
  194  applicable law.
  195         4.Regularly test and monitor systems and procedures for
  196  the detection of actual and attempted attacks on, or intrusions
  197  into, the licensee’s information system.
  198         5.Be monitored, evaluated, and adjusted, as necessary, to
  199  meet all of the following requirements:
  200         a.Determine whether the licensee’s information security
  201  program is consistent with relevant changes in technology.
  202         b.Confirm the licensee’s information security program
  203  accounts for the sensitivity of nonpublic personal information.
  204         c.Identify changes that may be necessary to the licensee’s
  205  information system.
  206         d.Mitigate any internal or external threats to nonpublic
  207  personal information.
  208         e.Amend the licensee’s information security program for
  209  any material changes to the licensee’s business arrangements,
  210  including, but not limited to, mergers and acquisitions,
  211  alliances and joint ventures, and outsourcing arrangements.
  212         (c)1.As part of a licensee’s information security program,
  213  the licensee shall establish a written incident response plan
  214  designed to promptly respond to, and recover from, a
  215  cybersecurity event that compromises:
  216         a.The confidentiality, integrity, or availability of
  217  nonpublic personal information in the licensee’s possession;
  218         b.The licensee’s information system; or
  219         c.The continuing functionality of any aspect of the
  220  licensee’s operations.
  221         2.The written incident response plan must address all of
  222  the following:
  223         a.The licensee’s internal process for responding to a
  224  cybersecurity event.
  225         b.The goals of the licensee’s incident response plan.
  226         c.The assignment of clear roles, responsibilities, and
  227  levels of decisionmaking authority for the licensee’s personnel
  228  that participate in the incident response plan.
  229         d.External communications, internal communications, and
  230  information sharing related to a cybersecurity event.
  231         e.The identification of remediation requirements for
  232  weaknesses identified in information systems and associated
  233  controls.
  234         f.The documentation and reporting regarding cybersecurity
  235  events and related incident response activities.
  236         g.The evaluation and revision of the incident response
  237  plan, as appropriate, following a cybersecurity event.
  238         h.The process by which notice must be given as required
  239  under subsection (3) and s. 501.171(3) and (4).
  240         (d)1.This section does not apply to a licensee that has
  241  fewer than:
  242         a.Twenty individuals on its workforce, including employees
  243  and independent contractors; or
  244         b.Five hundred customers during a calendar year.
  245         2.A licensee that no longer qualifies for exemption under
  246  subparagraph 1. has 180 calendar days to comply with this
  247  section after the date of the disqualification.
  248         (e)Each licensee shall maintain a copy of the information
  249  security program for a minimum of 5 years and shall make it
  250  available to the office upon request or as part of an
  251  examination.
  252         (3)NOTICE TO OFFICE OF SECURITY BREACH.—Each licensee
  253  shall provide notice to the office of any breach of security, as
  254  defined in s. 501.171, affecting 500 or more individuals in this
  255  state at a time and in the manner prescribed by commission rule.
  256         (4)CONSTRUCTION.—This section may not be construed to
  257  relieve a covered entity from complying with s. 501.171. To the
  258  extent a licensee is a covered entity, as defined in s.
  259  501.171(1), the licensee remains subject to s. 501.171.
  260         (5)RULES.—The commission shall adopt rules to administer
  261  this section, including rules that allow a licensee that is in
  262  compliance with the Federal Trade Commission’s Standards for
  263  Safeguarding Customer Information, 16 C.F.R. part 314, to be
  264  deemed in compliance with subsection (2).
  265         Section 4. Paragraph (z) is added to subsection (1) of
  266  section 494.00255, Florida Statutes, to read:
  267         494.00255 Administrative penalties and fines; license
  268  violations.—
  269         (1) Each of the following acts constitutes a ground for
  270  which the disciplinary actions specified in subsection (2) may
  271  be taken against a person licensed or required to be licensed
  272  under part II or part III of this chapter:
  273         (z)Failure to comply with the notification requirements in
  274  s. 501.171(3) and (4).
  275         Section 5. Present subsections (28) through (36) of section
  276  517.021, Florida Statutes, are redesignated as subsections (29)
  277  through (37), respectively, a new subsection (28) is added to
  278  that section, and subsection (20) of that section is amended, to
  279  read:
  280         517.021 Definitions.—When used in this chapter, unless the
  281  context otherwise indicates, the following terms have the
  282  following respective meanings:
  283         (20)(a) “Investment adviser” means a person, other than an
  284  associated person of an investment adviser or a federal covered
  285  adviser, that receives compensation, directly or indirectly, and
  286  engages for all or part of the person’s time, directly or
  287  indirectly, or through publications or writings, in the business
  288  of advising others as to the value of securities or as to the
  289  advisability of investments in, purchasing of, or selling of
  290  securities.
  291         (b) The term does not include any of the following:
  292         1. A dealer or an associated person of a dealer whose
  293  performance of services in paragraph (a) is solely incidental to
  294  the conduct of the dealer’s or associated person’s business as a
  295  dealer and who does not receive special compensation for those
  296  services.
  297         2. A licensed practicing attorney or certified public
  298  accountant whose performance of such services is solely
  299  incidental to the practice of the attorney’s or accountant’s
  300  profession.
  301         3. A bank authorized to do business in this state.
  302         4. A bank holding company as defined in the Bank Holding
  303  Company Act of 1956, as amended, authorized to do business in
  304  this state.
  305         5. A trust company having trust powers, as defined in s.
  306  658.12, which it is authorized to exercise in this state, which
  307  trust company renders or performs investment advisory services
  308  in a fiduciary capacity incidental to the exercise of its trust
  309  powers.
  310         6. A person that renders investment advice exclusively to
  311  insurance or investment companies.
  312         7. A person:
  313         a.Without a place of business in this state if the person
  314  has had that, during the preceding 12 months, has fewer than six
  315  clients who are residents of this state.
  316         b.With a place of business in this state if the person has
  317  had, during the preceding 12 months, fewer than six clients who
  318  are residents of this state and no clients who are not residents
  319  of this state.
  320  
  321  As used in this subparagraph, the term “client” has the same
  322  meaning as provided in Securities and Exchange Commission Rule
  323  222-2 275.222-2, 17 C.F.R. s. 275.222-2, as amended.
  324         8. A federal covered adviser.
  325         9. The United States, a state, or any political subdivision
  326  of a state, or any agency, authority, or instrumentality of any
  327  such entity; a business entity that is wholly owned directly or
  328  indirectly by such a governmental entity; or any officer, agent,
  329  or employee of any such governmental or business entity who is
  330  acting within the scope of his or her official duties.
  331         10.A family office as defined in Securities and Exchange
  332  Commission Rule 202(a)(11)(G)-1(b) under the Investment Advisers
  333  Act of 1940, 17 C.F.R. s. 275.202(a)(11)(G)-1(b), as amended. In
  334  determining whether a person meets the definition of a family
  335  office under this subparagraph, the terms “affiliated family
  336  office,” “control,” “executive officer,” “family client,”
  337  “family entity,” “family member,” “former family member,” “key
  338  employee,” and “spousal equivalent” have the same meaning as in
  339  Securities and Exchange Commission Rule 202(a)(11)(G)-1(d) under
  340  the Investment Advisers Act of 1940, 17 C.F.R. s.
  341  275.202(a)(11)(G)-1(d), as amended.
  342         (28)“Place of business” of an investment adviser means an
  343  office at which the investment adviser regularly provides
  344  investment advisory services to, solicits, meets with, or
  345  otherwise communicates with clients; and any other location that
  346  is held out to the general public as a location at which the
  347  investment adviser provides investment advisory services to,
  348  solicits, meets with, or otherwise communicates with clients.
  349         Section 6. Paragraph (i) of subsection (9) of section
  350  517.061, Florida Statutes, is amended to read:
  351         517.061 Exempt transactions.—Except as otherwise provided
  352  in subsection (11), the exemptions provided herein from the
  353  registration requirements of s. 517.07 are self-executing and do
  354  not require any filing with the office before being claimed. Any
  355  person who claims entitlement to an exemption under this section
  356  bears the burden of proving such entitlement in any proceeding
  357  brought under this chapter. The registration provisions of s.
  358  517.07 do not apply to any of the following transactions;
  359  however, such transactions are subject to s. 517.301:
  360         (9) The offer or sale of securities to:
  361         (i) A family office as defined in Securities and Exchange
  362  Commission Rule 202(a)(11)(G)-1(b) 202(a)(11)(G)-1 under the
  363  Investment Advisers Act of 1940, 17 C.F.R. s. 275.202(a)(11)(G)
  364  1(b) s. 275.202(a)(11)(G)-1, as amended, provided that:
  365         1. The family office has assets under management in excess
  366  of $5 million;
  367         2. The family office is not formed for the specific purpose
  368  of acquiring the securities offered; and
  369         3. The prospective investment of the family office is
  370  directed by a person who has knowledge and experience in
  371  financial and business matters that the family office is capable
  372  of evaluating the merits and risks of the prospective
  373  investment.
  374  
  375  In determining whether a person meets the definition of a family
  376  office under this paragraph, the terms “affiliated family
  377  office,” “control,” “executive officer,” “family client,”
  378  “family entity,” “family member,” “former family member,” “key
  379  employee,” and “spousal equivalent” have the same meaning as in
  380  Securities and Exchange Commission Rule 202(a)(11)(G)-1(d) under
  381  the Investment Advisers Act of 1940, 17 C.F.R. s.
  382  275.202(a)(11)(G)-1(d), as amended.
  383         Section 7. Paragraph (a) of subsection (1) of section
  384  517.201, Florida Statutes, is amended, and paragraph (c) is
  385  added to that subsection, to read:
  386         517.201 Investigations; examinations; subpoenas; hearings;
  387  witnesses.—
  388         (1) The office:
  389         (a) May make investigations and examinations within or
  390  outside of this state as it deems necessary:
  391         1. To determine whether a person has violated or is about
  392  to violate any provision of this chapter or a rule or order
  393  hereunder; or
  394         2. To aid in the enforcement of this chapter; or
  395         3. In accordance with a memorandum of agreement pursuant to
  396  s. 415.106(4)(b), to aid the Department of Children and Families
  397  with any protective investigations the Department of Children
  398  and Families is required to conduct under s. 415.104.
  399         (c) May consider or use as part of any investigation or
  400  examination pursuant to this section the information contained
  401  in any suspected financial exploitation report or any records
  402  generated as a result of such report which is obtained pursuant
  403  to s. 415.106(4).
  404         Section 8. Paragraphs (b) and (c) of subsection (3) and
  405  subsection (6) of section 517.34, Florida Statutes, are amended
  406  to read:
  407         517.34 Protection of specified adults.—
  408         (3) A dealer or investment adviser may delay a disbursement
  409  or transaction of funds or securities from an account of a
  410  specified adult or an account for which a specified adult is a
  411  beneficiary or beneficial owner if all of the following apply:
  412         (b) Not later than 3 business days after the date on which
  413  the delay was first placed, the dealer or investment adviser
  414  complies with all of the following conditions:
  415         1. Notifies in writing all parties authorized to transact
  416  business on the account and any trusted contact on the account,
  417  using the contact information provided for the account, with the
  418  exception of any party the dealer or investment adviser
  419  reasonably believes has engaged in, is engaging in, has
  420  attempted to engage in, or will attempt to engage in the
  421  suspected financial exploitation of the specified adult. The
  422  notice, which may be provided electronically, must provide the
  423  reason for the delay.
  424         2. Notifies the office of the delay electronically on a
  425  form prescribed by commission rule. The form must be consistent
  426  with the purposes of this section and must contain, but need not
  427  be limited to, the following information:
  428         a. The date on which the delay was first placed.
  429         b. The name, age, and address, or location, if different,
  430  of the specified adult.
  431         c. The business location of the dealer or investment
  432  adviser.
  433         d. The name, address, and telephone number and title of the
  434  employee who reported suspected financial exploitation of the
  435  specified adult.
  436         e. The facts and circumstances that caused the employee to
  437  report suspected financial exploitation.
  438         f. The names, addresses, and telephone numbers of the
  439  specified adult’s family members.
  440         g. The name, address, and telephone number of each person
  441  suspected of engaging in financial exploitation.
  442         h. The name, address, and telephone number of the caregiver
  443  of the specified adult, if different from the person or persons
  444  suspected of engaging in financial exploitation.
  445         i. A description of actions taken by the dealer or
  446  investment adviser, if any, such as notification to a criminal
  447  justice agency.
  448         j. Any other information available to the reporting person
  449  which may establish the cause of financial exploitation that
  450  occurred or is occurring.
  451         (c) Not later than 3 business days after the date on which
  452  the delay was first placed, the dealer or investment adviser
  453  Notifies the office of the delay electronically on a form
  454  prescribed by commission rule. The form must be consistent with
  455  the purposes of this section and may include only the following
  456  information:
  457         1. The date on which the notice is submitted to the office.
  458         2. The date on which the delay was first placed.
  459         3. The following information about the specified adult:
  460         a. Gender.
  461         b. Age.
  462         c. Zip code of residence address.
  463         4. The following information about the dealer or investment
  464  adviser who placed the delay:
  465         a. Name.
  466         b. Title.
  467         c. Firm name.
  468         d. Business address.
  469         5. A section with the following questions for which the
  470  only allowable responses are “Yes” or “No”:
  471         a. Is financial exploitation of a specified adult suspected
  472  in connection with a disbursement or transaction?
  473         b. Are funds currently at risk of being lost?
  474  
  475  The form must contain substantially the following statement in
  476  conspicuous type: “The office may take disciplinary action
  477  against any person making a knowing and willful
  478  misrepresentation on this form.”
  479         (6) A dealer, an investment adviser, or an associated
  480  person who in good faith and exercising reasonable care complies
  481  with this section is immune from any administrative or civil
  482  liability that might otherwise arise from such delay in a
  483  disbursement or transaction in accordance with this section.
  484  This subsection does not supersede or diminish any immunity
  485  granted under chapter 415, nor does it substitute for the duty
  486  to report to the central abuse hotline as required under s.
  487  415.1034.
  488         Section 9. Section 520.135, Florida Statutes, is created to
  489  read:
  490         520.135Surrendered or repossessed vehicles.—The rights and
  491  obligations of parties with respect to a surrendered or
  492  repossessed motor vehicle are exclusively governed by part VI of
  493  chapter 679.
  494         Section 10. Subsections (1) and (2) of section 560.114,
  495  Florida Statutes, are amended to read:
  496         560.114 Disciplinary actions; penalties.—
  497         (1) The following actions by a money services business, an
  498  authorized vendor, or a affiliated party that was affiliated at
  499  the time of commission of the actions constitute grounds for the
  500  issuance of a cease and desist order; the issuance of a removal
  501  order; the denial, suspension, or revocation of a license; or
  502  taking any other action within the authority of the office
  503  pursuant to this chapter:
  504         (a) Failure to comply with any provision of this chapter or
  505  related rule or order, or any written agreement entered into
  506  with the office.
  507         (b) Fraud, misrepresentation, deceit, or gross negligence
  508  in any transaction by a money services business, regardless of
  509  reliance thereon by, or damage to, a customer.
  510         (c) Fraudulent misrepresentation, circumvention, or
  511  concealment of any matter that must be stated or furnished to a
  512  customer pursuant to this chapter, regardless of reliance
  513  thereon by, or damage to, such customer.
  514         (d) False, deceptive, or misleading advertising.
  515         (e) Failure to maintain, preserve, keep available for
  516  examination, and produce all books, accounts, files, or other
  517  documents required by this chapter or related rules or orders,
  518  by 31 C.F.R. ss. 1010.306, 1010.311, 1010.312, 1010.340,
  519  1010.410, 1010.415, 1022.210, 1022.320, 1022.380, and 1022.410,
  520  or by an agreement entered into with the office.
  521         (f) Refusing to allow the examination or inspection of
  522  books, accounts, files, or other documents by the office
  523  pursuant to this chapter, or to comply with a subpoena issued by
  524  the office.
  525         (g) Failure to pay a judgment recovered in any court by a
  526  claimant in an action arising out of a money transmission
  527  transaction within 30 days after the judgment becomes final.
  528         (h) Engaging in an act prohibited under s. 560.111 or s.
  529  560.1115.
  530         (i) Insolvency.
  531         (j) Failure by a money services business to remove an
  532  affiliated party after the office has issued and served upon the
  533  money services business a final order setting forth a finding
  534  that the affiliated party has violated a provision of this
  535  chapter.
  536         (k) Making a material misstatement, misrepresentation, or
  537  omission in an application for licensure, any amendment to such
  538  application, or application for the appointment of an authorized
  539  vendor.
  540         (l) Committing any act that results in a license or its
  541  equivalent, to practice any profession or occupation being
  542  denied, suspended, revoked, or otherwise acted against by a
  543  licensing authority in any jurisdiction.
  544         (m) Being the subject of final agency action or its
  545  equivalent, issued by an appropriate regulator, for engaging in
  546  unlicensed activity as a money services business or deferred
  547  presentment provider in any jurisdiction.
  548         (n) Committing any act resulting in a license or its
  549  equivalent to practice any profession or occupation being
  550  denied, suspended, revoked, or otherwise acted against by a
  551  licensing authority in any jurisdiction for a violation of 18
  552  U.S.C. s. 1956, 18 U.S.C. s. 1957, 18 U.S.C. s. 1960, 31 U.S.C.
  553  s. 5324, or any other law or rule of another state or of the
  554  United States relating to a money services business, deferred
  555  presentment provider, or usury that may cause the denial,
  556  suspension, or revocation of a money services business or
  557  deferred presentment provider license or its equivalent in such
  558  jurisdiction.
  559         (o) Having been convicted of, or entered a plea of guilty
  560  or nolo contendere to, any felony or crime punishable by
  561  imprisonment of 1 year or more under the law of any state or the
  562  United States which involves fraud, moral turpitude, or
  563  dishonest dealing, regardless of adjudication.
  564         (p) Having been convicted of, or entered a plea of guilty
  565  or nolo contendere to, a crime under 18 U.S.C. s. 1956 or 31
  566  U.S.C. s. 5318, s. 5322, or s. 5324, regardless of adjudication.
  567         (q) Having been convicted of, or entered a plea of guilty
  568  or nolo contendere to, misappropriation, conversion, or unlawful
  569  withholding of moneys belonging to others, regardless of
  570  adjudication.
  571         (r)Having been convicted of, or entered a plea of guilty
  572  or nolo contendere to, a violation of 31 C.F.R. chapter X, part
  573  1022, regardless of adjudication.
  574         (s)(r) Failure to inform the office in writing within 30
  575  days after having pled guilty or nolo contendere to, or being
  576  convicted of, any felony or crime punishable by imprisonment of
  577  1 year or more under the law of any state or the United States,
  578  or any crime involving fraud, moral turpitude, or dishonest
  579  dealing.
  580         (t)(s) Aiding, assisting, procuring, advising, or abetting
  581  any person in violating a provision of this chapter or any order
  582  or rule of the office or commission.
  583         (u)(t) Failure to pay any fee, charge, or cost imposed or
  584  assessed under this chapter.
  585         (v)(u) Failing to pay a fine assessed by the office within
  586  30 days after the due date as stated in a final order.
  587         (w)(v) Failure to pay any judgment entered by any court
  588  within 30 days after the judgment becomes final.
  589         (x)(w) Engaging or advertising engagement in the business
  590  of a money services business or deferred presentment provider
  591  without a license, unless exempted from licensure.
  592         (y)(x) Payment to the office for a license or other fee,
  593  charge, cost, or fine with a check or electronic transmission of
  594  funds that is dishonored by the applicant’s or licensee’s
  595  financial institution.
  596         (z)(y) Violations of 31 C.F.R. ss. 1010.306, 1010.311,
  597  1010.312, 1010.340, 1010.410, 1010.415, 1022.210, 1022.320,
  598  1022.380, and 1022.410, and United States Treasury Interpretive
  599  Release 2004-1.
  600         (aa)(z) Any practice or conduct that creates the likelihood
  601  of a material loss, insolvency, or dissipation of assets of a
  602  money services business or otherwise materially prejudices the
  603  interests of its customers.
  604         (bb)(aa) Failure of a check casher to maintain a federally
  605  insured depository account as required by s. 560.309.
  606         (cc)(bb) Failure of a check casher to deposit into its own
  607  federally insured depository account any payment instrument
  608  cashed as required by s. 560.309.
  609         (dd)(cc) Violating any provision of the Military Lending
  610  Act, 10 U.S.C. s. 987, or the regulations adopted under that act
  611  in 32 C.F.R. part 232, in connection with a deferred presentment
  612  transaction conducted under part IV of this chapter.
  613         (ee)Failure to comply with the notification requirements
  614  in s. 501.171(3) and (4).
  615         (2) Pursuant to s. 120.60(6), The office shall issue an
  616  emergency suspension order suspending may summarily suspend the
  617  license of a money services business if the office finds that a
  618  licensee poses a danger deemed by the Legislature to be an
  619  immediate and, serious danger to the public health, safety, and
  620  welfare. A proceeding in which the office seeks the issuance of
  621  a final order for the summary suspension of a licensee shall be
  622  conducted by the commissioner of the office, or his or her
  623  designee, who shall issue such order.
  624         (a) An emergency suspension order under this subsection may
  625  be issued without prior notice and an opportunity to be heard.
  626  An emergency suspension order must:
  627         1. State the grounds on which the order is based;
  628         2. Advise the licensee against whom the order is directed
  629  that the order takes effect immediately and, to the extent
  630  applicable, requires the licensee to immediately cease and
  631  desist from the conduct or violation that is the subject of the
  632  order or to take the affirmative action stated in the order as
  633  necessary to correct a condition resulting from the conduct or
  634  violation or as otherwise appropriate;
  635         3. Be delivered by personal delivery or sent by certified
  636  mail, return receipt requested, to the licensee against whom the
  637  order is directed at the licensee’s last known address; and
  638         4. Include a notice that the licensee subject to the
  639  emergency suspension order may seek judicial review pursuant to
  640  s. 120.68.
  641         (b) An emergency suspension order is effective as soon as
  642  the licensee against whom the order is directed has actual or
  643  constructive knowledge of the issuance of the order.
  644         (c) The office shall institute timely proceedings under ss.
  645  120.569 and 120.57 after issuance of an emergency suspension
  646  order.
  647         (d) A licensee subject to an emergency suspension order may
  648  seek judicial review pursuant to s. 120.68.
  649         (e) The following acts are deemed by the Legislature to
  650  constitute an immediate and serious danger to the public health,
  651  safety, and welfare, and the office shall may immediately issue
  652  an emergency suspension order to suspend the license of a money
  653  services business if:
  654         1.(a) The money services business fails to provide to the
  655  office, upon written request, any of the records required by s.
  656  560.123, s. 560.1235, s. 560.211, or s. 560.310 or any rule
  657  adopted under those sections. The suspension may be rescinded if
  658  the licensee submits the requested records to the office.
  659         2.(b) The money services business fails to maintain a
  660  federally insured depository account as required by s.
  661  560.208(4) or s. 560.309.
  662         3.(c) A natural person required to be listed on the license
  663  application for a money services business pursuant to s.
  664  560.141(1)(a)3. is criminally charged with, or arrested for, a
  665  crime described in paragraph (1)(o), paragraph (1)(p), or
  666  paragraph(1)(q).
  667         Section 11. Section 560.1311, Florida Statutes, is created
  668  to read:
  669         560.1311Information security programs.—
  670         (1)DEFINITIONS.—As used in this section, the term:
  671         (a)“Customer” means a person who seeks to obtain or who
  672  obtains or has obtained a financial product or service from a
  673  licensee.
  674         (b)“Customer information” means any record containing
  675  nonpublic personal information about a customer of a financial
  676  transaction, whether on paper, electronic, or in other forms,
  677  which is handled or maintained by or on behalf of the licensee
  678  or its affiliates.
  679         (c)“Cybersecurity event” means an event resulting in
  680  unauthorized access to, or disruption or misuse of, an
  681  information system or customer information stored on such
  682  information system. The term does not include the unauthorized
  683  acquisition of encrypted customer information if the encryption
  684  process or key is not also acquired, released, or used without
  685  authorization. The term does not include an event with regard to
  686  which the licensee has determined that the customer information
  687  accessed by an unauthorized person has not been used or released
  688  and has been returned or destroyed.
  689         (d)“Encrypted” means the transformation of data into a
  690  form that results in a low probability of assigning meaning
  691  without the use of a protective process or key.
  692         (e)“Financial product or service” means any product or
  693  service offered by a licensee under this chapter.
  694         (f)“Information security program” means the
  695  administrative, technical, or physical safeguards used to
  696  access, collect, distribute, process, protect, store, use,
  697  transmit, dispose of, or otherwise handle customer information.
  698         (g)“Information system” means a discrete set of electronic
  699  information resources organized for the collection, processing,
  700  maintenance, use, sharing, dissemination, or disposition of
  701  electronic information, as well as any specialized system such
  702  as an industrial process control system, telephone switching and
  703  private branch exchange system, or environmental control system,
  704  which contain customer information or which are connected to a
  705  system that contains customer information.
  706         (h)1.“Nonpublic personal information” means:
  707         a.Personally identifiable financial information; and
  708         b.Any list, description, or other grouping of customers
  709  which is derived using any personally identifiable financial
  710  information that is not publicly available, such as account
  711  numbers, including any list of individuals’ names and street
  712  addresses which is derived, in whole or in part, using
  713  personally identifiable financial information that is not
  714  publicly available.
  715         2.The term does not include:
  716         a.Publicly available information, except as included on a
  717  list, description, or other grouping of customers described in
  718  sub-subparagraph 1.b.;
  719         b.Any list, description, or other grouping of consumers,
  720  or any publicly available information pertaining to such list,
  721  description, or other grouping of consumers, which is derived
  722  without using any personally identifiable financial information
  723  that is not publicly available; or
  724         c.Any list of individuals’ names and addresses which
  725  contains only publicly available information, is not derived, in
  726  whole or in part, using personally identifiable financial
  727  information that is not publicly available, and is not disclosed
  728  in a manner that indicates that any of the individuals on the
  729  list is a customer of a licensee.
  730         3.As used in this paragraph, the term:
  731         a.(I)“Personally identifiable financial information” means
  732  any information that:
  733         (A)A customer provides to a licensee to obtain a financial
  734  product or service, such as information that a customer provides
  735  to a licensee on an application to obtain a loan or other
  736  financial product or service;
  737         (B)A licensee receives about a consumer which is obtained
  738  during or as a result of any transaction involving a financial
  739  product or service between the licensee and the customer, such
  740  as information collected through an information-collecting
  741  device from a web server; or
  742         (C)A licensee otherwise obtains about a customer in
  743  connection with providing a financial product or service to the
  744  customer, such as the fact that an individual is or has been one
  745  of the licensee’s customers or has obtained a financial product
  746  or service from the licensee.
  747         (II)The term “personally identifiable financial
  748  information” does not include:
  749         (A)A list of names and addresses of customers of an entity
  750  that is not a financial institution; or
  751         (B)Information that does not identify a customer, such as
  752  blind data or aggregate information that does not contain
  753  personal identifiers such as account numbers, names, or
  754  addresses.
  755         b.(I)“Publicly available information” means any
  756  information that a licensee has a reasonable basis to believe is
  757  lawfully made available to the general public from:
  758         (A)Federal, state, or local government records, such as
  759  government real estate records or security interest filings;
  760         (B)Widely distributed media, such as information from a
  761  telephone records repository or directory, a television or radio
  762  program, a newspaper, a social media platform, or a website that
  763  is available to the general public on an unrestricted basis. A
  764  website is not restricted merely because an Internet service
  765  provider or a site operator requires a fee or a password, so
  766  long as access is available to the general public; or
  767         (C)Disclosures to the general public which are required to
  768  be made by federal, state, or local law.
  769         (II)As used in this sub-subparagraph, the term “reasonable
  770  basis to believe is lawfully made available to the general
  771  public” relating to any information means that the person has
  772  taken steps to determine:
  773         (A)That the information is of the type that is available
  774  to the general public, such as information included on the
  775  public record in the jurisdiction where the mortgage would be
  776  recorded; and
  777         (B)Whether an individual can direct that the information
  778  not be made available to the general public and, if so, the
  779  customer to whom the information relates has not done so, such
  780  as when a telephone number is listed in a telephone directory
  781  and the customer has informed the licensee that the telephone
  782  number is not unlisted.
  783         (i)“Third-party service provider” means a person, other
  784  than a licensee, which contracts with a licensee to maintain,
  785  process, or store nonpublic personal information, or is
  786  otherwise permitted access to nonpublic personal information
  787  through its provision of services to a licensee.
  788         (2)INFORMATION SECURITY PROGRAM.—
  789         (a)Each licensee shall develop, implement, and maintain a
  790  comprehensive written information security program that contains
  791  administrative, technical, and physical safeguards for the
  792  protection of the licensee’s information system and nonpublic
  793  personal information.
  794         (b)Each licensee shall ensure that the information
  795  security program meets all of the following criteria:
  796         1.Be commensurate with the following measures:
  797         a.Size and complexity of the licensee.
  798         b.Nature and scope of the licensee’s activities, including
  799  the licensee’s use of third-party service providers.
  800         c.Sensitivity of nonpublic personal information that is
  801  used by the licensee or that is in the licensee’s possession,
  802  custody, or control.
  803         2.Be designed to do all of the following:
  804         a.Protect the security and confidentiality of nonpublic
  805  personal information and the security of the licensee’s
  806  information system.
  807         b.Protect against threats or hazards to the security or
  808  integrity of nonpublic personal information and the licensee’s
  809  information system.
  810         c.Protect against unauthorized access to or the use of
  811  nonpublic personal information and minimize the likelihood of
  812  harm to any customer.
  813         3.Define and periodically reevaluate the retention
  814  schedule and the mechanism for the destruction of nonpublic
  815  personal information if retention is no longer necessary for the
  816  licensee’s business operations or is no longer required by
  817  applicable law.
  818         4.Regularly test and monitor systems and procedures for
  819  the detection of actual and attempted attacks on, or intrusions
  820  into, the licensee’s information system.
  821         5.Be monitored, evaluated, and adjusted, as necessary, to
  822  meet all of the following requirements:
  823         a.Determine whether the licensee’s information security
  824  program is consistent with relevant changes in technology.
  825         b.Confirm the licensee’s information security program
  826  accounts for the sensitivity of nonpublic personal information.
  827         c.Identify changes that may be necessary to the licensee’s
  828  information system.
  829         d.Mitigate any internal or external threats to nonpublic
  830  personal information.
  831         e.Amend the licensee’s information security program for
  832  any material changes to the licensee’s business arrangements,
  833  including, but not limited to, mergers and acquisitions,
  834  alliances and joint ventures, and outsourcing arrangements.
  835         (c)1.As part of a licensee’s information security program,
  836  the licensee shall establish a written incident response plan
  837  designed to promptly respond to, and recover from, a
  838  cybersecurity event that compromises:
  839         a.The confidentiality, integrity, or availability of
  840  nonpublic personal information in the licensee’s possession;
  841         b.The licensee’s information system; or
  842         c.The continuing functionality of any aspect of the
  843  licensee’s operations.
  844         2.The written incident response plan must address all of
  845  the following:
  846         a.The licensee’s internal process for responding to a
  847  cybersecurity event.
  848         b.The goals of the licensee’s incident response plan.
  849         c.The assignment of clear roles, responsibilities, and
  850  levels of decisionmaking authority for the licensee’s personnel
  851  that participate in the incident response plan.
  852         d.External communications, internal communications, and
  853  information sharing related to a cybersecurity event.
  854         e.The identification of remediation requirements for
  855  weaknesses identified in information systems and associated
  856  controls.
  857         f.The documentation and reporting regarding cybersecurity
  858  events and related incident response activities.
  859         g.The evaluation and revision of the incident response
  860  plan, as appropriate, following a cybersecurity event.
  861         h.The process by which notice must be given as required
  862  under subsection (3) and s. 501.171(3) and (4).
  863         (d)1.This section does not apply to a licensee that has
  864  fewer than:
  865         a.Twenty individuals on its workforce, including employees
  866  and independent contractors; or
  867         b.Five hundred customers during a calendar year.
  868         2.A licensee that no longer qualifies for exemption under
  869  subparagraph 1. has 180 calendar days to comply with this
  870  section after the date of the disqualification.
  871         (e)Each licensee shall maintain a copy of the information
  872  security program for a minimum of 5 years and shall make it
  873  available to the office upon request or as part of an
  874  examination.
  875         (3)NOTICE TO OFFICE OF SECURITY BREACH.—Each licensee
  876  shall provide notice to the office of any breach of security, as
  877  defined in s. 501.171(1), affecting 500 or more individuals in
  878  this state at a time and in the manner prescribed by commission
  879  rule.
  880         (4)CONSTRUCTION.—This section may not be construed to
  881  relieve a covered entity from complying with s. 501.171. To the
  882  extent a licensee is a covered entity, as defined in s.
  883  501.171(1), the licensee remains subject to s. 501.171.
  884         (5)RULES.—The commission shall adopt rules to administer
  885  this section, including rules that allow a licensee that is in
  886  compliance with the Federal Trade Commission’s Standards for
  887  Safeguarding Customer Information, 16 C.F.R. part 314, to be
  888  deemed in compliance with subsection (2).
  889         Section 12. Subsection (10) of section 560.309, Florida
  890  Statutes, is amended to read:
  891         560.309 Conduct of business.—
  892         (10) If a check is returned to a licensee from a payor
  893  financial institution due to lack of funds, a closed account, or
  894  a stop-payment order, the licensee may seek collection pursuant
  895  to s. 68.065. In seeking collection, the licensee must comply
  896  with the prohibitions against harassment or abuse, false or
  897  misleading representations, and unfair practices in the Florida
  898  Consumer Collection Practices Act under part VI of chapter 559,
  899  including s. 559.77. The licensee must also comply with the Fair
  900  Debt Collections Practices Act, 15 U.S.C. ss. 1692d, 1692e, and
  901  1692f if the licensee uses a third-party debt collector or any
  902  name other than its own to collect such debts. A violation of
  903  this subsection is a deceptive and unfair trade practice and
  904  constitutes a violation of the Deceptive and Unfair Trade
  905  Practices Act under part II of chapter 501. In addition, a
  906  licensee must comply with the applicable provisions of the
  907  Consumer Collection Practices Act under part VI of chapter 559,
  908  including s. 559.77.
  909         Section 13. Subsection (3) of section 560.405, Florida
  910  Statutes, is amended to read:
  911         560.405 Deposit; redemption.—
  912         (3) Notwithstanding subsection (1), in lieu of presentment,
  913  a deferred presentment provider may allow the check to be
  914  redeemed at any time upon payment of the outstanding transaction
  915  balance and earned fees. A redemption transacted using a debit
  916  card shall be treated the same as a redemption transacted using
  917  cash. However, payment may not be made in the form of a personal
  918  check or through a credit card transaction. Upon redemption, the
  919  deferred presentment provider must return the drawer’s check and
  920  provide a signed, dated receipt showing that the drawer’s check
  921  has been redeemed.
  922         Section 14. Subsection (2) of section 560.406, Florida
  923  Statutes, is amended to read:
  924         560.406 Worthless checks.—
  925         (2) If a check is returned to a deferred presentment
  926  provider from a payor financial institution due to insufficient
  927  funds, a closed account, or a stop-payment order, the deferred
  928  presentment provider may pursue all legally available civil
  929  remedies to collect the check, including, but not limited to,
  930  the imposition of all charges imposed on the deferred
  931  presentment provider by the financial institution. In its
  932  collection practices, a deferred presentment provider must
  933  comply with the prohibitions against harassment or abuse, false
  934  or misleading representations, and unfair practices that are
  935  contained in the Florida Consumer Collection Practices Act under
  936  part VI of chapter 559, including s. 559.77. A deferred
  937  presentment provider must also comply with the Fair Debt
  938  Collections Practices Act, 15 U.S.C. ss. 1692d, 1692e, and 1692f
  939  if the deferred presentment provider uses a third-party debt
  940  collector or any name other than its own to collect such debts.
  941  A violation of this act is a deceptive and unfair trade practice
  942  and constitutes a violation of the Deceptive and Unfair Trade
  943  Practices Act under part II of chapter 501. In addition, a
  944  deferred presentment provider must comply with the applicable
  945  provisions of the Consumer Collection Practices Act under part
  946  VI of chapter 559, including s. 559.77.
  947         Section 15. Section 655.0171, Florida Statutes, is created
  948  to read:
  949         655.0171Requirements for customer data security and for
  950  notices of security breaches.—
  951         (1)DEFINITIONS.—As used in this section, the term:
  952         (a)“Breach of security” or “breach” means unauthorized
  953  access of data in electronic form containing personal
  954  information. Good faith access of personal information by an
  955  employee or agent of a financial institution does not constitute
  956  a breach of security, provided that the information is not used
  957  for a purpose unrelated to the business or subject to further
  958  unauthorized use. As used in this paragraph, the term “data in
  959  electronic form” means any data stored electronically or
  960  digitally on any computer system or other database and includes
  961  recordable tapes and other mass storage devices.
  962         (b)“Department” means the Department of Legal Affairs.
  963         (c)1.“Personal information” means:
  964         a.An individual’s first name, or first initial, and last
  965  name, in combination with any of the following data elements for
  966  that individual:
  967         (I)A social security number;
  968         (II)A driver license or identification card number,
  969  passport number, military identification number, or other
  970  similar number issued on a government document used to verify
  971  identity;
  972         (III)A financial account number or credit or debit card
  973  number, in combination with any required security code, access
  974  code, or password that is necessary to permit access to the
  975  individual’s financial account;
  976         (IV)The individual’s biometric data as defined in s.
  977  501.702; or
  978         (V)Any information regarding the individual’s geolocation;
  979  or
  980         b.A username or e-mail address, in combination with a
  981  password or security question and answer that would permit
  982  access to an online account.
  983         2.The term does not include information about an
  984  individual which has been made publicly available by a federal,
  985  state, or local governmental entity. The term also does not
  986  include information that is encrypted, secured, or modified by
  987  any other method or technology that removes elements that
  988  personally identify an individual or that otherwise renders the
  989  information unusable.
  990         (2)REQUIREMENTS FOR DATA SECURITY.—Each financial
  991  institution shall take reasonable measures to protect and secure
  992  data that are in electronic form and that contain personal
  993  information.
  994         (3)NOTICE TO OFFICE AND DEPARTMENT OF SECURITY BREACH.—
  995         (a)1.Each financial institution shall provide notice to
  996  the office of any breach of security affecting 500 or more
  997  individuals in this state. Such notice must be provided to the
  998  office as expeditiously as practicable, but no later than 30
  999  days after the determination of the breach or the determination
 1000  of a reason to believe that a breach has occurred.
 1001         2.The written notice to the office must include the items
 1002  required under s. 501.171(3)(b).
 1003         3.A financial institution must provide the following
 1004  information to the office upon its request:
 1005         a.A police report, incident report, or computer forensics
 1006  report.
 1007         b.A copy of the policies in place regarding breaches.
 1008         c. Steps that have been taken to rectify the breach.
 1009         4.A financial institution may provide the office with
 1010  supplemental information regarding a breach at any time.
 1011         (b)Each financial institution shall provide notice to the
 1012  department of any breach of security affecting 500 or more
 1013  individuals in this state. Such notice must be provided to the
 1014  department in accordance with s. 501.171.
 1015         (4)NOTICE TO INDIVIDUALS OF SECURITY BREACH.—Each
 1016  financial institution shall give notice to each individual in
 1017  this state whose personal information was, or the financial
 1018  institution reasonably believes to have been, accessed as a
 1019  result of the breach in accordance with s. 501.171(4). The
 1020  notice must be provided no later than 30 days after the
 1021  determination of the breach or the determination of a reason to
 1022  believe that a breach has occurred. A financial institution may
 1023  receive 15 additional days to provide notice to individuals of a
 1024  security breach as required in this subsection if good cause for
 1025  delay is provided in writing to the office within 30 days after
 1026  determination of the breach or determination of the reason to
 1027  believe that a breach has occurred.
 1028         (5)NOTICE TO CREDIT REPORTING AGENCIES.—If a financial
 1029  institution discovers circumstances requiring notice pursuant to
 1030  this section of more than 1,000 individuals at a single time,
 1031  the financial institution shall also notify, without
 1032  unreasonable delay, all consumer reporting agencies that compile
 1033  and maintain files on consumers on a nationwide basis, as
 1034  defined in the Fair Credit Reporting Act, 15 U.S.C. s. 1681a(p),
 1035  of the timing, distribution, and content of the notices.
 1036         Section 16. Present subsections (3), (4), and (5) of
 1037  section 655.032, Florida Statutes, are redesignated as
 1038  subsections (4), (5), and (6), respectively, and a new
 1039  subsection (3) is added to that section, to read:
 1040         655.032 Investigations, subpoenas, hearings, and
 1041  witnesses.—
 1042         (3) The office may consider or use as part of any
 1043  investigation or other action pursuant to this section the
 1044  information contained in any suspected financial exploitation
 1045  report or any records generated as a result of such report which
 1046  is obtained pursuant to s. 415.106(4).
 1047         Section 17. Present paragraphs (c) through (f) of
 1048  subsection (1) of section 655.045, Florida Statutes, are
 1049  redesignated as paragraphs (d) through (g), respectively, a new
 1050  paragraph (c) is added to that subsection, and present paragraph
 1051  (d) of that subsection is amended, to read:
 1052         655.045 Examinations, reports, and internal audits;
 1053  penalty.—
 1054         (1) The office shall conduct an examination of the
 1055  condition of each state financial institution at least every 18
 1056  months. The office may conduct more frequent examinations based
 1057  upon the risk profile of the financial institution, prior
 1058  examination results, or significant changes in the institution
 1059  or its operations. The office may use continuous, phase, or
 1060  other flexible scheduling examination methods for very large or
 1061  complex state financial institutions and financial institutions
 1062  owned or controlled by a multi-financial institution holding
 1063  company. The office shall consider examination guidelines from
 1064  federal regulatory agencies in order to facilitate, coordinate,
 1065  and standardize examination processes.
 1066         (c) The office may consider or use as part of any
 1067  examination or other action conducted pursuant to this section
 1068  the information
 1069  
 1070  ================= T I T L E  A M E N D M E N T ================
 1071  And the title is amended as follows:
 1072         Delete lines 97 - 115
 1073  and insert:
 1074         amending s. 560.405, F.S.; requiring that redemptions
 1075         transacted using a debit card be treated the same as
 1076         redemptions transacted using cash; prohibiting
 1077         redemption through a credit card transaction; amending
 1078         s. 560.406, F.S.; providing that licensees must comply
 1079         with the Fair Debt Collections Practices Act only if
 1080         the licensees meet certain criteria; creating s.
 1081         655.0171, F.S.; defining terms; requiring financial
 1082         institutions to take measures to protect and secure
 1083         certain data that contain personal information;
 1084         providing requirements for notices of security
 1085         breaches to the office, the Department of Legal
 1086         Affairs, certain individuals, and certain credit
 1087         reporting agencies; amending s. 655.032, F.S.;
 1088         authorizing the office to consider or use certain
 1089         information as part of certain investigations or other
 1090         actions; amending s. 655.045, F.S.; authorizing the
 1091         office to consider or use certain information as part
 1092         of certain investigations or other actions; revising
 1093         the timeline for the mailing