69V-160.111. Disciplinary Guidelines

(1) Pursuant to Section 516.07, F.S., Disciplinary Guidelines for Consumer Finance Companies, Form OFR-516-04, which is hereby incorporated by reference, effective 08-2023, available on the Office’s website at www.flofr.gov and available at http://www.flrules.org/Gateway/reference.asp?No=Ref-15703, are applicable to each ground for disciplinary action that may be imposed by the Office against a person for each act that is a violation of Chapter 516, F.S. For the purpose of this rule and the disciplinary guidelines, the term “citation” means: a notice of noncompliance, reprimand, written agreement, or final order docketed by the agency that specifies a violation of Chapter 516, F.S., or any rule promulgated under that chapter.

(2) Consistent with the disciplinary guidelines contained in Form OFR-516-04, Disciplinary Guidelines for Consumer Finance Companies, the Office may issue: a notice of noncompliance; a written agreement which includes an adminstrative fine, but not adopted by a final order; orders to reprimand a licensee, orders to place a licensee on probation; orders restricting or applying conditions upon the issuance or maintenance of a license; orders to impose an administrative fine; and/or orders to supend or revoke a license.

(a) For first citations identified in the disciplinary guidelines as minor violations, the Office shall issue a notice of noncompliance except when the Office identifies aggravating factors that would warrant a more severe penalty.

(b) For second citations identified in the disciplinary guidelines as minor violations, the Office may issue a written agreement which is not adopted by a final order imposing an administrative fine. Written agreeements may be used only when the violations are limited to minor violations.

(3) In accordance with Section 516.07, F.S., the Office shall consider the following circumstances in determing an appropriate penalty within the range of penalties prescribed in the disciplinary guidelines for each violation. The Office shall also consider the circumstances when determining whether a deviation from the range of penalties in the disciplinary guidelines is warranted:

(a) The following circumstances are considered mitigating factors which will be used to reduce the penalty:

1. The violation rate is less than 5% when compared to the overall sample size reviewed;

2. No prior citation by the Office against the consumer finance company or a control person of the consumer finance company within the past 10 years;

3. The consumer finance company detected and voluntarily instituted corrective action or measures to avoid the recurrence of the violation prior to the detection and intervention by the Office;

4. The violation is attributable to a single person or employee, and the consumer finance company removed or otherwise disciplined the individual prior to detection or intervention by the Office;

5. The consumer finance company provided substantial assistance to the Office in its examination or investigation of the underlying misconduct, or whether the respondent attempted to impede or delay Office’s examination or investigation, to conceal or withhold information from the Office, or to provide incomplete, inaccurate or misleading testimony or documentary information to the Office;

6. The consumer finance company self-reported the violation to the Office prior to examination or discovery by the Office; or

7. Other relevant, case-specific circumstances.

(b) The following circumstances are considered aggravating factors which will be used to increase the penalty:

1. The violation rate is more than 95% when compared to the overall sample size reviewed (sample size must be equal to or greater than 50 transactions and cover a date range of at least 6 months);

2. There is a potential for harm to customers or the public;

3. Prior citations by the Office against the consumer finance company or a control person of the consumer finance company within the past 5 years which contain the same violations;

4. The violation was the result of willful misconduct or recklessness;

5. The consumer finance company or a control person of the consumer finance company attempted to conceal the violation or mislead the Office; or

6. Other relevant, case-specific circumstances.

(4) The list of violations cited in the disciplinary guidelines is intended to be comprehensive, but the omission of a violation from the list does not preclude the Office from taking any action authorized by Chapter 516, F.S.

(5) The ranges for administrative fines imposed by the disciplinary guidelines are $100 to $350 for an “A” level fine; $350 ‒ $750 for a “B” level fine; and $750 ‒ $1,000 for a “C” level fine.

(6) The ranges for suspension imposed by the disciplinary guidelines are 3 to 10 days for an “A” level suspension; 11 to 20 days for a “B” level suspension; and 21 to 30 days for a “C” level suspension.

Rulemaking Authority 516.23(3) FS. Law Implemented 516.02, 516.031, 516.035, 516.037, 516.05, 516.07, 516.15, 516.16, 516.17, 516.21, 516.31, 516.36 FS. History–New 3-20-91, Formerly 3D-160.111, Amended 2-16-23, 8-3-23.