B.LANE LLC d/b/a Heritage Cash Advance; Background Summary: B. Lane LLC d/b/a Heritage Cash Advance (HCA) filed a Petition for Declaratory Statement requesting that the Office issue an order addressing its proposed online deferred presentment ...

 

DEPARTMENT OF FINANCIAL SERVICES

Finance

NOTICE IS HEREBY GIVEN that the Office of Financial Regulation has issued an order disposing of the petition for declaratory statement filed by B.LANE LLC d/b/a Heritage Cash Advance on August 27, 2015. The following is a summary of the agency’s disposition of the petition:

Background Summary: B. Lane LLC d/b/a Heritage Cash Advance (HCA) filed a Petition for Declaratory Statement requesting that the Office issue an order addressing its proposed online deferred presentment provider activities regulated pursuant to Chapter 560, Florida Statutes. Resolution: Based on the facts stated in the petition, HCA: (1) is prohibited from charging an additional “convenience fee”; (2) would need a Funds Transmitter license pursuant to Chapter 560, Part II, Florida Statutes, in order to transmit funds via ACH to a customer's bank account, or to issue electronic checks; and (3) would need a license under Chapter 516, Florida Statutes, in order to offer online consumer installment loans. Therefore, the Petition is denied in relevant part, and all other portions rejected for lack of information.

A copy of the Order Disposing of the Petition for Declaratory Statement may be obtained by contacting: Agency Clerk, Office of Financial Regulation, P.O. Box 8050, Tallahassee, Florida 32314-8050, [phone].