Florida 2025 Regular Session

Florida House Bill H0937 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
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3	3	HB 937 2025
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7	7	CODING: Words stricken are deletions; words underlined are additions.
8	8	hb937-00
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10	10	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
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14	14	A bill to be entitled 1
15	15	An act relating to consumer finance loans; creating s. 2
16	16	516.181, F.S.; prohibiting persons from engaging in 3
17	17	specified actions to evade the requirements of ch. 4
18	18	516, F.S.; providing that consumer finance loans made 5
19	19	in violation of such prohibitions are void and 6
20	20	uncollectible; providing construction relating to when 7
21	21	a person is deemed to be a lender subject to such 8
22	22	prohibitions; providing an effective date. 9
23	23	10
24	24	Be It Enacted by the Legislature of the State of Florida: 11
25	25	12
26	26	Section 1. Section 516.181, Florida Statutes, is created 13
27	27	to read: 14
28	28	516.181 Predatory loan prevention. — 15
29	29	(1) A person may not employ any device, scheme, or 16
30	30	artifice to evade the requirements o f this chapter, including, 17
31	31	but not limited to, either of the following: 18
32	32	(a) Making, offering, or assisting a borrower in 19
33	33	obtaining, or arranging for a borrower to obtain, a consumer 20
34	34	finance loan with a higher rate or amount of interest, fees, 21
35	35	charges, consideration, or other payment received incident to 22
36	36	the loan than is authorized by this chapter through any method, 23
37	37	including mail, telephone, the Internet, or any electronic 24
38	38	means, regardless of whether the person is physically located in 25
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40	40	HB 937 2025
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44	44	CODING: Words stricken are deletions; words underlined are additions.
45	45	hb937-00
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47	47	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
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49	49
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51	51	this state. 26
52	52	(b) Receiving interest, fees, charges, consideration, or 27
53	53	other payments in excess of those authorized by this chapter, 28
54	54	regardless of whether the payment purports to be voluntary. 29
55	55	(2) A consumer finance loan made in violation of this 30
56	56	section is void and unco llectible as to any principal, fee, 31
57	57	interest, charge, or payment. 32
58	58	(3) If a consumer finance loan exceeds the rate authorized 33
59	59	under s. 516.031, a person who engages in an activity described 34
60	60	in paragraph (1)(a) or paragraph (1)(b) is deemed a lender 35
61	61	subject to this section, regardless of whether that person 36
62	62	purports to act as an agent or a service provider or in another 37
63	63	capacity for another entity that is exempt from this chapter, if 38
64	64	any of the following applies: 39
65	65	(a) The person holds, acquires, or maintai ns, directly or 40
66	66	indirectly, the predominant economic interest, risk, or reward 41
67	67	in the loan. 42
68	68	(b) The person: 43
69	69	1. Markets, solicits, brokers, arranges, facilitates, or 44
70	70	services the loan; and 45
71	71	2. Holds or has the right, requirement, or first right of 46
72	72	refusal to acquire the loan, a share of receivables, or another 47
73	73	direct or indirect interest in the loan or loan program. 48
74	74	(c) The totality of the circumstances indicates that the 49
75	75	person is the lender and that the transaction is structured to 50
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77	77	HB 937 2025
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80	80
81	81	CODING: Words stricken are deletions; words underlined are additions.
82	82	hb937-00
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84	84	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
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86	86
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88	88	evade the requirements of this chapter. Circumstances that weigh 51
89	89	in favor of a person being a lender subject to this section 52
90	90	include, without limitation, whether the person: 53
91	91	1. Indemnifies, insures, or protects an exempt entity from 54
92	92	any costs or risks related to the loan; 55
93	93	2. Predominantly designs, controls, or operates the loan 56
94	94	program; 57
95	95	3. Holds the trademark or intellectual property rights in 58
96	96	the brand, underwriting system, or other core aspects of the 59
97	97	loan program; or 60
98	98	4. Purports to act as an agent or a servic e provider or in 61
99	99	another capacity for an exempt entity while acting directly as a 62
100	100	lender in other states. 63
101	101	Section 2. This act shall take effect July 1, 2025. 64