Florida Senate - 2024 CS for SB 1074 By the Committee on Banking and Insurance; and Senator Calatayud 597-02366-24 20241074c1 1 A bill to be entitled 2 An act relating to debt relief services; amending s. 3 817.803, F.S.; providing an exception from specified 4 provisions for telemarketers and sellers who provide 5 debt relief services under certain circumstances; 6 defining terms; providing an effective date. 7 8 Be It Enacted by the Legislature of the State of Florida: 9 10 Section 1.Section 817.803, Florida Statutes, is amended to 11 read: 12 817.803Exceptions.Nothing in This part does not apply 13 applies to: 14 (1)Any debt management or credit counseling services 15 provided in the practice of law in this state.; 16 (2)Any person who engages in debt adjustment to adjust the 17 indebtedness owed to such person.; or 18 (3)Any of the following entities or their subsidiaries: 19 (a)The Federal National Mortgage Association.; 20 (b)The Federal Home Loan Mortgage Corporation.; 21 (c)The Florida Housing Finance Corporation, a public 22 corporation created in s. 420.504.; 23 (d)A bank, bank holding company, trust company, savings 24 and loan association, credit union, credit card bank, or savings 25 bank that is regulated and supervised by the Office of the 26 Comptroller of the Currency, the Office of Thrift Supervision, 27 the Federal Reserve, the Federal Deposit Insurance Corporation, 28 the National Credit Union Administration, the Office of 29 Financial Regulation of the Department of Financial Services, or 30 any state banking regulator.; 31 (e)A consumer reporting agency as defined in the Federal 32 Fair Credit Reporting Act, 15 U.S.C. ss. 1681-1681y, as it 33 existed on April 5, 2004.; or 34 (f)Any subsidiary or affiliate of a bank holding company, 35 its employees and its exclusive agents acting under written 36 agreement. 37 (4)(a)Any telemarketer or seller who provides any debt 38 relief service within the scope of the Telemarketing and 39 Consumer Fraud and Abuse Prevention Act, 15 U.S.C. ss. 6101 40 6108, and the Telemarketing Sales Rule, 16 C.F.R. part 310, and 41 who therefore is required to comply with such federal 42 regulation, if such telemarketer or seller does not receive from 43 the debtor and disburse to a creditor any money or other thing 44 of value, in accordance with the definition of debt management 45 services under s. 817.801(4)(b). 46 (b)As used in this subsection, the terms telemarketer, 47 seller, and debt relief service have the same meaning as in 48 16 C.F.R. s. 310.2. 49 Section 2.This act shall take effect July 1, 2024.