Surepay Lending Group, LLC.; On September 17, 2019, the Florida Office of Financial Regulation issued a Final Order on Petition for Declaratory Statement. The Office determined that Petitioner's proposed activity, as described in the Petition would ...

 

DEPARTMENT OF FINANCIAL SERVICES

Finance

NOTICE IS HEREBY GIVEN that the Florida Office of Financial Regulation has issued an order disposing of the petition for declaratory statement filed by Surepay Lending Group, LLC. on June 19, 2019. The following is a summary of the agency's disposition of the petition: On September 17, 2019, the Florida Office of Financial Regulation issued a Final Order on Petition for Declaratory Statement. The Office determined that Petitioner's proposed activity, as described in the Petition would require a license pursuant to Chapter 520, Florida Statutes, to either sell or buy retail installment contracts, and merchants assigning retail installment contracts to Petitioner would also need to be licensed pursuant to chapter 520, Florida Statutes. The interest charged to consumers by Petitioner or merchants as retail installment licensees is governed by chapters 516, 520, and 687, Florida Statutes. Petitioner is not authorized to charge the interest rates set forth in the Petition as being as high as 135 percent. ******The original petition was published June 24, 2019 in the Florida Administrative Register Volume 45, Number 122.

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], [e-mail].

Please refer all comments to: Agency Clerk, Office of Financial Regulation, P.O. Box 8050, Tallahassee, Florida 32314-8050, [phone], [e-mail].