FL
Florida House Bill H0587

Florida 2024 Regular Session

Florida House Bill H0587 Compare Versions

OldNewDifferences
11
22
3-CS/HB 587 2024
3+HB 587 2024
44
55
66
77 CODING: Words stricken are deletions; words underlined are additions.
8-hb0587-01-c1
8+hb0587-00
99 Page 1 of 4
1010 F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
1111
1212
1313
1414 A bill to be entitled 1
1515 An act relating to public records; amending s. 655.49, 2
1616 F.S.; providing a public records exemption for 3
1717 termination-of-access reports filed by financial 4
18-institutions with the Office of Financial Regulation, 5
19-for information contained in such reports, and for 6
20-personally identifying and personal financial 7
21-information contained in complaints filed by customers 8
22-or members and in determinations issued by the off ice 9
23-related to such complaints and reports; providing for 10
24-future legislative review and repeal of the exemption; 11
25-providing statements of public necessity; providing a 12
26-contingent effective date. 13
27- 14
28-Be It Enacted by the Legislature of the State of Florida: 15
29- 16
30- Section 1. Subsection (5) of section 655.49, Florida 17
31-Statutes, as created by HB 585, 2024 Regular Session, is amended 18
32-to read: 19
33- 655.49 Bad faith termination or restriction of account 20
34-access; investigations by the office. — 21
35- (5)(a) All reports, and a ny information contained therein, 22
36-and personally identifying or personal financial information 23
37-contained in a complaint filed or a determination issued 24
38-pursuant to this section are confidential and exempt from s. 25
18+institutions with the Office of Financial Regulation 5
19+and for information contained in such reports; 6
20+providing for future legislative review and repeal of 7
21+the exemption; providing statements of public 8
22+necessity; providing a contingent effective date. 9
23+ 10
24+Be It Enacted by the Legislature of the State of Florida: 11
25+ 12
26+ Section 1. Subsection (4) of section 655.49, Florida 13
27+Statutes, as created by HB 585, 2024 Regular Session, is amended 14
28+to read: 15
29+ 655.49 Termination-of-access reports by financial 16
30+institutions; investigations by the Office of Financial 17
31+Regulation.— 18
32+ (4)(a) All reports filed pursuant to this section, and any 19
33+information contained therein, are confidential and exempt from 20
34+s. 119.07(1) and s. 24(a), Art. I of the State Constitution. 21
35+This paragraph is subject to the Open Government Sunset Review 22
36+Act in accordance with s. 119.15 and shall stand repealed on 23
37+October 2, 2029, unless reviewed and saved from repeal through 24
38+reenactment by the Legislature. 25
3939
40-CS/HB 587 2024
40+HB 587 2024
4141
4242
4343
4444 CODING: Words stricken are deletions; words underlined are additions.
45-hb0587-01-c1
45+hb0587-00
4646 Page 2 of 4
4747 F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
4848
4949
5050
51-119.07(1) and s. 24(a), Art. I of the State Constitution. This 26
52-paragraph is subject to the Open Government Sunset Review Act in 27
53-accordance with s. 119.15 and shall stand repealed on October 2, 28
54-2029, unless reviewed and saved from repeal through reenactment 29
55-by the Legislature. 30
56- (b) The office shall provide any report filed pursuant to 31
57-this section, or information contained therein, to any federal, 32
58-state, or local law enforcement or prosecutorial agency, and any 33
59-federal or state agency responsible for the regulation or 34
60-supervision of financial instit utions, if the provision of such 35
61-report is otherwise required by law. 36
62- Section 2. (1) The Legislature finds that it is a public 37
63-necessity that personally identifying or personal financial 38
64-information contained in a complaint filed by a customer or 39
65-member or a determination issued by the Office of Financial 40
66-Regulation alleging a violation of s. 655.49, Florida Statutes, 41
67-and a termination-of-access report filed with the office 42
68-pursuant to s. 655.49, Florida Statutes, by a financial 43
69-institution that termin ates, suspends, or takes similar action 44
70-restricting a customer's or member's account access, and any 45
71-information obtained by the office in the report or as the 46
72-result of the office's investigation and examination duties 47
73-under s. 655.49, Florida Statutes, b e made confidential and 48
74-exempt from s. 119.07(1), Florida Statutes, and s. 24(a), 49
75-Article I of the State Constitution. The disclosure of such 50
51+ (b) The office shall provide any report filed pursu ant to 26
52+this section, or information contained therein, to any federal, 27
53+state, or local law enforcement or prosecutorial agency, and any 28
54+federal or state agency responsible for the regulation or 29
55+supervision of financial institutions, if the provision of suc h 30
56+report is otherwise required by law. 31
57+ Section 2. (1) The Legislature finds that it is a public 32
58+necessity that a termination -of-access report filed with the 33
59+Office of Financial Regulation pursuant to s. 655.49, Florida 34
60+Statutes, by a financial institu tion that terminates, suspends, 35
61+or takes similar action restricting a customer's or member's 36
62+account access and any information obtained by the office in the 37
63+report or as the result of the office's investigation and 38
64+examination duties under s. 655.49, Flor ida Statutes, be made 39
65+confidential and exempt from s. 119.07(1), Florida Statutes, and 40
66+s. 24(a), Article I of the State Constitution. The disclosure of 41
67+such report and information could injure a financial institution 42
68+in the marketplace by providing its com petitors with detailed 43
69+insight into its business operations, thereby diminishing the 44
70+advantage that the institution maintains over its competitors 45
71+that do not possess such information. Proprietary business 46
72+information derives actual or potential independen t economic 47
73+value from not being generally known to, and not being readily 48
74+ascertainable by proper means by, other persons who can derive 49
75+economic value from its disclosure or use. The Office of 50
7676
77-CS/HB 587 2024
77+HB 587 2024
7878
7979
8080
8181 CODING: Words stricken are deletions; words underlined are additions.
82-hb0587-01-c1
82+hb0587-00
8383 Page 3 of 4
8484 F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
8585
8686
8787
88-report and such personally identifying or personal financial 51
89-information could injure a financial institution in t he 52
90-marketplace by providing its competitors with detailed insight 53
91-into its business operations, thereby diminishing the advantage 54
92-that the institution maintains over its competitors that do not 55
93-possess such information. Proprietary business information 56
94-derives actual or potential independent economic value from not 57
95-being generally known to, and not being readily ascertainable by 58
96-proper means by, other persons who can derive economic value 59
97-from its disclosure or use. The office, in performing its duties 60
98-and responsibilities, may need to obtain proprietary business 61
99-information from financial institutions. Without an exemption 62
100-from public records requirements for proprietary business 63
101-information provided to the office, such information becomes a 64
102-public record when received and must be divulged upon request. 65
103-Release of proprietary business information would give business 66
104-competitors an unfair advantage and weaken the position in the 67
105-marketplace of the proprietor that owns or controls the business 68
106-information. 69
107- (2) Furthermore, the office may receive sensitive 70
108-personally identifying or personal financial information of 71
109-customers or members in complaints filed by a customer or member 72
110-or in termination-of-access reports filed by financial 73
111-institutions and may restat e such information in its 74
112-determination, the release of which could defame or jeopardize 75
88+Financial Regulation, in performing its duties and 51
89+responsibilities, may need to obtain proprietary business 52
90+information from financial institutions. Without an exemption 53
91+from public records requirements for proprietary business 54
92+information provided to the office, such information becomes a 55
93+public record when receive d and must be divulged upon request. 56
94+Release of proprietary business information would give business 57
95+competitors an unfair advantage and weaken the position in the 58
96+marketplace of the proprietor that owns or controls the business 59
97+information. 60
98+ (2) Furthermore, the office may receive sensitive 61
99+financial and personal information of customers or members in 62
100+the termination-of-access reports filed by financial 63
101+institutions, the release of which could defame or jeopardize 64
102+the personal and financial safety of such individuals and their 65
103+family members. Placing within the public domain the financial 66
104+and personal identifying information of the customers or members 67
105+of the financial institutions would increase the security risk 68
106+for these customers or members, who could become the target of 69
107+criminal activity. An exemption from public records requirements 70
108+is necessary to ensure the office's ability to administer its 71
109+regulatory duties while preventing unwarranted damage to a 72
110+financial institution or a customer or member of a financial 73
111+institution. 74
112+ Section 3. This act shall take effect on the same date 75
113113
114-CS/HB 587 2024
114+HB 587 2024
115115
116116
117117
118118 CODING: Words stricken are deletions; words underlined are additions.
119-hb0587-01-c1
119+hb0587-00
120120 Page 4 of 4
121121 F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
122122
123123
124124
125-the personal and financial safety of such individuals and their 76
126-family members. Placing within the public domain personally 77
127-identifying or personal financial informati on of the customers 78
128-or members of the financial institutions would increase the 79
129-security risk for these customers or members, who could become 80
130-the target of criminal activity. An exemption from public 81
131-records requirements is necessary to ensure the office' s ability 82
132-to administer its regulatory duties while preventing unwarranted 83
133-damage to a financial institution or a customer or member of a 84
134-financial institution. 85
135- Section 3. This act shall take effect on the same date 86
136-that HB 585 or similar legislation t akes effect, if such 87
137-legislation is adopted in the same legislative session or an 88
138-extension thereof and becomes a law. 89
125+that HB 585 or similar legislation takes effect , if such 76
126+legislation is adopted in the same legislative session or an 77
127+extension thereof and becomes a law. 78