Disciplinary Guidelines, Application or Appointment Procedures and Requirements, Registration of Locations and Appointment of Authorized Vendors, Requirements, Annual Filing of Financial Audit Reports by Part II Licensees, Suspicious Activity Report ...
DEPARTMENT OF FINANCIAL SERVICES
RULE NOS.:RULE TITLES:
69V-560.1000Disciplinary Guidelines
69V-560.102Application or Appointment Procedures and Requirements
69V-560.107Registration of Locations and Appointment of Authorized Vendors
69V-560.201Requirements
69V-560.606Annual Filing of Financial Audit Reports by Part II Licensees
69V-560.609Suspicious Activity Report Filings
69V-560.702Payment Instrument Sellers
69V-560.703Money Transmitters
69V-560.704Records to Be Maintained by Check Cashers
69V-560.707Records to be Maintained by Deferred Presentment Providers
69V-560.902Definitions
69V-560.903Deferred Presentment Transactions
69V-560.904Transaction Agreement Disclosures and Requirements
69V-560.905Transaction Fees
69V-560.907Database Access
69V-560.909Database Availability
69V-560.911Database Dispute Resolution for Customers
69V-560.913Termination of Deferred Presentment Activity; Database Maintenance
NOTICE OF CHANGE
Notice is hereby given that the following changes have been made to the proposed rule in accordance with subparagraph 120.54(3)(d)1., F.S., published in Vol. 45 No. 145, July 26, 2019 issue of the Florida Administrative Register.
These changes are made in response to comments made by the Joint Administrative Procedures Committee, comments received from the public, and comments at public hearing.
69V-560.1000 Disciplinary Guidelines.
(1) No change..
(2) Consistent with the disciplinary guidelines contained in the Office of Financial Regulation, Division of Consumer Finance, Form OFR-560-09, Disciplinary Guidelines for Money Services Businesses, the Office may issue: a written agreement which includes an administrative fine, but not adopted by final order; orders to revoke or suspend a license; orders to impose an administrative fine; orders of prohibition; orders of removal; orders denying applications; notices of non-compliance; and/or bring an action for injunction. Also, consistent with the disciplinary guidelines, to determine penalties, the Office may consider the combined effect of violations.
(a) Depending on the severity and repetition of specific violations, the Office may impose an administrative fine, suspension of a license, or revocation of a license or any combination thereof;
(a)(b) For first citations identified in the disciplinary guidelines as minor violations, the Office shall issue a notice of non-compliance except when the Office identifies aggravating circumstances that would warrant a more severe penalty.
(b)(c) For second citations identified in the disciplinary guidelines as minor violations, the Office may issue a written agreement which is not adopted by final order imposing an administrative fine. Written agreements may be used only when the violations are limited to minor violations.
(3) through (6) No change..
Rulemaking Authority 560.105, 560.1141 FS. Law Implemented 560.109, 560.1092, 560.1105, 560.111, 560.113 560.114, 560.1141, 560.118, 560.123, 560.1235, 560.125, 560.126, 560.128, 560.208, 560.2085, 560.209, 560.210, 560.211, 560.213, 560.303, 560.309, 560.310, 560.403, 560.404, 560.405, 560.406 FS. History–New 6-7-09, Amended__________.
69V-560.102 Application or Appointment Procedures and Requirements.
(1) through (2) No change..
(3) Request for Additional Information. Any request for additional information will be made by the Office within thirty (30) days after receipt of the application. The additional information must be received by the Office within forty-five (45) days from the date of the request. For good cause shown, Tthe Office will may grant a request for an additional forty-five (45) days to submit the additional information. The Office will not grant a request after the original forty-five (45) day deadline has passed. Failure to timely provide all additional information shall result in the application being deemed abandoned, which will result in the application being removed from further consideration by the Office and closed.
(4) through (5) No change..
Rulemaking Authority 215.405, 560.105, 560.118, 560.209, 560.403 FS. Law Implemented 215.405, 560.118, 560.1401, 560.141, 560.143, 560.1235, 560.204, 560.205, 560.209, 560.303, 560.403, 943.053 FS. History–New 9-24-97, Amended 11-4-01, 12-11-03, Formerly 3C-560.102, Amended 7-15-07, 6-17-08, 12-25-08, 1-13-09, 1-2-14, Amended__________.
69V-560.107 Application for Branch Office and Appointment of Authorized Vendors.
(1) No change.
(2) Every licensee shall be responsible for promptly filing a completed Form OFR-560-02 to terminate a branch office or authorized vendor.
Pursuant to section 560.2085, F.S., a licensee must file Form-560-02 and the applicable fee within sixty (60) days of the authorized vendor commencing operations. This requirement also applies to authorized vendors who are terminated within the sixty (60) days. Form OFR-560-02 is incorporated by reference in rule 69V-560.1012, F.A.C.
69V-560.201 Amendments, Change of Name, Change of Entity and Change in Control or Ownership.
(1) through (2) No change.
(3) Each person licensed under chapter 560, F.S., that proposes to change any personnel listed in question 5G of Form OFR-560-01 that does not result in a change of controlling interest in the licensee, shall file an amendment not later than thirty (30) days prior to on or before the effective date of the change or within two (2) business days after the date the licensee first received notice of the change. Persons not currently on file with the Office that have not complied with section 560.141(1)(c), F.S., must comply with the fingerprinting requirements contained therein.
(4) No change.
(5) A licensee required to file a new application as a result of an acquisition of a controlling interest pursuant to section 560.126(3)(a)(2), F.S., must also file new location forms (Form OFR-560-02) and applicable fees up to a maximum of $20,000 for all existing locations on file with the Office at the time of filing the new application in subsection (4) of this rule (1) and a Declaration of Intent to Engage in Deferred Presentment Transactions (Form OFR-560-03) and applicable fee if currently engaged in deferred presentment transactions.
(6) The Office shall waive the requirement for a licensee to file a new application pursuant to section 560.126(3)(a)(2), F.S.:
(a) through (b) No change..
(7) Forms OFR-560-01, and OFR-560-02, and OFR-560-03 are incorporated by reference in rule 69V-560.1012, F.A.C.
Rulemaking Authority 215.405, 560.105, 560.126 FS. Law Implemented 215.405, 560.126, 560.127, 560.143, 560.204, 560.303 FS. History–New 9-24-97, Amended 11-4-01, 12-11-03, Formerly 3C-560.201, Amended 7-15-07, 1-13-09, __________.
69V-560.606 Annual Filing of Financial Audit Reports by Part II Licensees.
(1) through (3) No change..
(4) For purposes of adding new locations or authorized vendors, a Part II licensee may rely upon its annual financial audit reports that were received by the Office in a timely manner as required in subsections (1) and (2) of this rule. The Office reserves the right to require additional documentation up to and including the submission of interim financial audit reports to substantiate the licensee’s net worth.
(5) No change.
Rulemaking Authority 560.105, 560.118 FS. Law Implemented 560.118, 560.209, FS. History–New 11-4-01, Formerly 3C-560.606, Amended 7-15-07, 1-13-09,__________.
69V-560.609 Suspicious Activity Report Filings.
(1) Pursuant to section 560.1235(1), F.S., licensees and authorized vendors must comply with all state and federal laws and rules relating to the detection and prevention of money laundering, including, as applicable, 31 C.F.R. s. 1022.320, effective November 4, 2016, relating to reports by money services businesses of suspicious transactions. For purposes of section 560.1235(1), F.S., the federal law requirement to report suspicious transactions applies to the following money services businesses: payment instrument sellers that sell money orders or traveler’s checks, money transmitters, and foreign currency exchangers. These entities are required to report suspicious transactions to FinCEN using FinCEN Form 111, Suspicious Activity Report by Money Service Business, and failure to do so is a violation of section 560.1235, F.S.
(2) Under federal law, check cashers may, but are not required to, file reports of suspicious transactions; however, pursuant to section 560.309(5), F.S., check cashers are required to report suspicious activity to the office or an appropriate regulator based on the criteria set forth in 31 C.F.R. s. 1022.320, effective 11/4/2016. The Commission designates FinCEN as the appropriate regulator to receive such reports, which shall be submitted to FinCEN on FinCEN Form 111, Suspicious Activity Report by Money Service Business. Suspicious Activity Reports filed with FinCEN shall be deemed to have also been filed with the Office. Failure of a check casher to report suspicious activity to FinCEN is a violation of section 560.309(5), F.S.
(3) FinCEN Form 111, Suspicious Activity Report by Money Service Business is incorporated by reference in rule 69V-560.1012, F.A.C. Federal regulation 31 C.F.R. s. 1022.320, effective November 4, 2016 is hereby incorporated by reference and available at www.ecfr.gov.
(4) No change.
69V-560.702 Payment Instrument Sellers.
(1) No change.
(2) For all transactions that exceed $3,000, the payment instrument seller shall also obtain and record the information required by 31 C.F.R. ss. 1010.415 in accordance with section 560.1235(1), F.S., (a)(2), effective March 1, 2011. For purposes of this section multiple payment instruments purchased in one or more transactions on a single day shall be aggregated.
(3) No change.
(4) Every payment instrument seller shall develop and implement written policies and procedures to monitor compliance with applicable state and federal law by its authorized vendors. The policies and procedures must should include, but are not limited to compliance with the following applicable statutes and regulations:
(a) through (b) No change.s
(c) Office of Foreign Asset Control regulations: 31 C.F.R. Part 500; 31 C.F.R. s. 594.201, Form OFR-560-10, effective July 1, 2018, and available at http://www.flrules.org; 31 C.F.R. s. 594.204, Form OFR-560-11, effective July 1, 2018, and available at http://www.flrules.org; 31 C.F.R. s. 501.603, Form OFR-560-12, effective July 1, 2018, and available at http://www.flrules.org; and 31 C.F.R. s. 501.604, Form OFR-560-13, effective July 1, 2018, March 1, 2011 and available at http://www.flrules.org.
(d) Gramm-Leach-Bliley Act regarding protection of personal information: 15 U.S.C. ss. 6801 Form OFR-560-14, effective July 21, 2010, and available at http://www.flrules.org; 6802 Form OFR-560-15, effective July 21, 2010, and available at http://www.flrules.org, and 6803 Form OFR-560-16, effective December 4, 2015, and available at http://www.flrules.org.
(e) No change..
(5) No change.
(6) Subpoenas, warrants, and other requests from regulatory, law enforcement, or prosecutorial agencies and records relating to training as required by 31 C.F.R. s. 1022.210, Form OFR-560-17, effective July 1, 2018, and available at http://www.flrules.org, shall be maintained so that they are retrievable as required by section 560.1105(1), F.S.
(7) No change.
(8) All forms federal laws and regulations referenced in this rule are hereby incorporated by reference and available on the Office’s website at www.flofr.com and by mail from the Office of Financial Regulation, 200 East Gaines Street, Tallahassee, Florida 32399-0376.
69V-560.703 Money Transmitters.
(1) No change.
(2) For each money transmission in the amount of $3,000 or more, compliance with the record keeping requirements contained within 31 C.F.R. Part 1010, Subpart D, Form OFR-560-18, effective July 1, 2018, and available at http://www.flrules.org, will satisfy the record keeping requirements of chapter 560, F.S. For purposes of compliance with 31 C.F.R. 1010, Subpart D, a money transmitter is also subject to the additional record keeping requirements for “other than established customers”.
(a) through (c) No change.
(3) No change.
(4) Every money transmitter shall develop and implement written policies and procedures to monitor compliance with applicable state and federal law by its authorized vendors. These policies and procedures must should include, but are not limited to compliance with the following applicable statutes and regulations:
(a) through (b) No change.
(c) Office of Foreign Asset Control regulations: 31 C.F.R. Part 500; 31 C.F.R. s. 594.201 Form OFR-560-10, effective July 1, 2018, and available at http://www.flrules.org; 31 C.F.R. s. 594.204 Form OFR-560-11, effective July 1, 2018, and available at http://www.flrules.org; 31 C.F.R. s. 501.603 Form OFR-560-12, effective July 1, 2018, and available at http://www.flrules.org; and 31 C.F.R. s. 501.604, Form OFR-560-13, effective July 1, 2018, and available at http://www.flrules.org March 1, 2011.
(d) Gramm-Leach-Bliley Act regarding protection of personal information: 15 U.S.C. ss. 6801, Form OFR-560-14, effective July 21, 2010, and available at http://www.flrules.org, 6802, Form OFR-560-15, effective July 21, 2010, and available at http://www.flrules.org, and 6803, Form OFR-560-16, effective December 4, 2015, and available at http://www.flrules.org.
(e) No change.
(5) No change.
(6) Subpoenas, warrants and other requests from regulatory, law enforcement, and prosecutorial agencies, and records related to training as required by 31 C.F.R. s. 1022.210, Form OFR-560-17, effective July 1, 2018 July 29, 2011, and available at http://www.flrules.org, and shall be maintained so that they are retrievable as required by section 560.1105(1), F.S.
(7) No change.
(8) All forms federal laws and regulations referenced in this rule are hereby incorporated by reference and available on the Office’s website at www.flofr.com and by mail from the Office of Financial Regulation, 200 East Gaines Street, Tallahassee, Florida 32399- 0376.
Rulemaking Authority 560.105, 560.1105, 560.2085, 560.211 FS. Law Implemented 560.1105, 560.1235, 560.2085, 560.211 FS. History–New 9-24-97, Formerly 3C-560.703, Amended 1-13-09,________.
69V-560.704 Records to Be Maintained by Check Cashers.
(1) through (3) No change.
(4)(a) through (c) No change.
(d) Create and maintain a customer file for each entity listed as the payee on corporate payment instruments accepted by the licensee. Each customer file must include, at a minimum, the following information:
1. through 6. No change.
7. A written corporate customer profile which includes: the full legal name of each beneficial owner, as defined in 31 C.F.R. s. 1010.230(d), Form OFR-560-19, effective July 1, 2018, is hereby incorporated by reference and available at http://www.flrules.org, of the corporate customer; an explanation of the customer’s business model; type(s) of services offered; projected annual volume of check cashing; and annual daily check cashing limits as they relate to the corporate customer’s workers’ compensation policy coverage limits.
(e) No change.
(5) Check Cashing Database: A check casher must in accordance with section 560.310(2)(d), F.S., submit the following information into the check cashing database prior to the check casher providing currency (or payment instrument if a Part II licensee):
(a) 1. Transaction date;.
(b) 2 Payor name as displayed on the payment instrument;.
(c) 3. Payee name as displayed on the payment instrument;.
(d) 4. Conductor name, if different from the payee name;.
(e) 5. Amount of the payment instrument;.
(f) 6. Amount of currency provided;.
(g) 7. Type of payment instrument;.
(h) 8. Amount of the fee charged for cashing of the payment instrument;.
(i) 9. Branch or location where the payment instrument was accepted;.
(j) 10. The type of identification and identification number presented by the payee or conductor;.
(k)11. Payee’s workers’ compensation insurance policy number or exemption certificate number, if a corporate payment instrument and an active policy exists;.
(l)12. Payee Corporate Document Number as issued by the Secretary of State, if a corporate payment instrument;. and
(m)13. Payee Federal Employer Identification Number, if a corporate payment instrument.
69V-560.707 Records to be Maintained by Deferred Presentment Providers.
(1) Every deferred presentment provider shall maintain the following records at a location which has been designated to the Office:
(a) A copy of each personal check, or ACH authorization including any authorization to transfer or withdraw funds from an account signed by the drawer, accepted for each deferred presentment transaction.
(b) No change.
(c)1. through 3. No change.
(d) If applicable for a deferred presentment installment transaction, a copy of each document relating to any deferral request received from any drawer including:
1. A signed and dated notice from the drawer that the drawer is unable to cover the check or to repay the provider on or before the installment due date, and that the drawer agrees to and is aware of the new due date for the deferred installment payment.
2. All correspondence received from or sent to the drawer or the consumer regarding the deferred installment payment.
(e) through (l) No change.
(2) No change.
69V-560.902 Definitions.
(1) through (6) No change.
(7) The term “pending transaction” or “pending” means a an transaction that is in the process of clearing the banking system, in the 60-day grace period pursuant to section 560.404(22)(a), F.S., or returned to the provider pursuant to section 560.406, F.S.
(8) The term “closed transaction” or “close” or “terminated” means a transaction terminated as provided in section 560.903(1), F.S. rule 69V-560.903(1), Florida Administrative Code.
(9) No change.
(10) The term “check” means includes but is not limited to any authorization to transfer or withdraw funds from an account signed by the drawer, including any authorization by a drawer to execute an Automated Clearing House debit transaction.
69V-560.903 Deferred Presentment Transactions.
(1) A deferred presentment transaction shall be considered terminated at such time as all checks that are the basis of the deferred presentment agreement have been:
(a) through (e) No change.
(f) Deposited by the provider or processed for collection through the ACH system and the provider has not received notice within fourteen (14) days that the check representing the final payment has been returned for insufficient funds, stop payment or closed account. The deferred presentment database will automatically close the transaction after fourteen (14) days if the provider has updated the transaction status to reflect the deposit and no action has been taken by the provider to update the deferred presentment database to reflect that the check has been returned as discussed above.
1. Notwithstanding the automatic termination provision of paragraph subparagraph 69V-560.903(1)(f), F.A.C., providers shall immediately close all transactions in the deferred presentment database when a transaction is terminated as required by subsection 69V-560.908(6), F.A.C.
2. No change.
3. Each deferred presentment provider shall develop and implement written policies and procedures relating to the reconciliation of returned items where termination of the existing transaction is accomplished pursuant to paragraph subparagraph 69V-560.903(1)(f), F.A.C., which clearly supports the timely and accurate update of transactional information on the deferred presentment database.
(2) No change.
69V-560.904 Deferred Presentment Transaction Agreement Disclosures and Requirements.
(1) Each deferred presentment transaction agreement must contain the following:
(a) For deferred presentment transactions not repayable in installments
1. through 5. No change.
6. A listing of all fees charged to the drawer catagorized by fee type (i.e., 1-% transaction fee and vertification fee);
7. through 16. No change.
(b) For deferred presentment transactions repayable in installments:
1. through 5. No change.
6. A listing of all fees charged to the drawer catagorized by fee type (i.e., 1-% transaction fee and vertification fee);
7. through 16. No change.
(2)(a) If the deferred presentment provider (Part II licensees only) intends to provide the drawer with a payment instrument in lieu of currency, the agreement shall also contain the drawer’s acknowledgment that he or she has consented to accept the provider’s payment instrument in lieu of currency. Such acknowledgment shall clearly state that it is the drawer’s choice to obtain such payment instrument, and that the provider may not require a drawer to accept a payment instrument in lieu of currency. For purposes of this section, the drawer may accept disbursement of the proceeds via ACH credit to the drawer’s account. This acknowledgment shall be separately initialed by the drawer.;
(b) If the provider intends to electronically debit the drawer’s account to collect the funds, the agreement shall also contain the drawer’s authorization to the provider permitting the electronic debit of the drawer’s account. This authorization shall be provided in a separate section of the transaction agreement, in not less than 8 point type, and must be initialed by the drawer. Providers must still adhere to all provisions of part IV of chapter 560, F.S., regarding the drawer’s payment options under such part.;
(3) through (4) No change.
(5) Upon being given timely notice by a drawer in person or in writing that he or she will not be able to pay the scheduled payment amount for a deferred presentment installment transaction owed to the deferred presentment provider in accordance with the agreement, every provider shall verbally advise the drawer of the availability to defer only one scheduled payment as authorized in section 560.404(23), F.S. A provider shall provide the drawer with the following notice upon deferment of a scheduled payment in at least 14-point type in substantially the following form:
NOTICE
Your scheduled payment which was due on [Date] has been deferred to [Date]. If the deferred presentment provider is holding a check for this scheduled payment, the provider may deposit your check if you do not redeem the check by the new deferred date. Be advised Florida law allows only one scheduled payment to be deferred for each deferred presentment installment transaction; therefore, you are not entitled to additional deferments deferrments for this transaction.
69V-560.905 Deferred Presentment Transaction Fees.
(1) The transaction fee for a deferred presentment transaction not repayable in installments shall be limited to ten percent (10%) of the amount of currency or payment instrument provided to the drawer. A deferred presentment provider may also charge a verification fee in accordance with rule 69V-560.801, F.A.C. An example of the computation of the maximum fees allowed by the code in a transaction where the drawer is seeking an advance of $500 would be as follows:
(a) No change..
(b)(2) A $50 transaction fee ($500 X 10%); and,
(c)(a) Up to $5 for the direct costs associated with verification of the drawer’s identity and/or employment. In this example, the provider would provide currency or a payment instrument (Part II licensees) in the amount of $500 to the drawer, and the drawer would provide a personal check in the amount of between $550-$555 depending upon the exact amount of the direct costs of verification, if any, assessed by the provider with respect to this drawer. Unless a drawer has met the requirements for an automatic grace period, the drawer would be required to either redeem his or her personal check in cash (face amount of the check) or the provider would on the due date or a reasonable time thereafter present such personal check to the financial institution for payment.
(2)(3) The transaction fee for a deferred presentment installment transaction shall be disclosed computed at the time of origination. The transaction fee shall be and limited to eight percent (8.00%) of the outstanding transaction balance on a biweekly basis using a simple interest calculation. A drawer’s untimely payment of a scheduled amount shall not increase the drawer’s outstanding transaction balance. Deferred presentment installment fees may not be charged in amounts exceeding those amounts disclosed as finance charges on the deferred presentment installment transaction agreement pursuant to Section 560.404(13), F.S. When calculating extra days for a first installment period that is longer than the remaining installment periods, the transaction fee is limited to a daily simple interest rate of zero point five seven one four two percent (0.57142%) of the outstanding transaction balance per extra day. A deferred presentment provider may also charge a verification fee in accordance with rule 69V-560.801, F.A.C.
(a) No change.
(b) Unless a drawer has met the requirements for a deferral as specified in s. 560.404(23), F.S., or redeemed his or her personal check in cash (face amount of the check), the provider shall on the due date or a reasonable time thereafter present such personal check to the financial institution for payment on the first business day after the due date shown for that particular payment on the deferred presentment installment transaction agreement.
(c) A provider may return unearned fees in the event a deferred presentment installment transaction is paid in full prior to the last scheduled payment due date. Overpayments and early payments towards an outstanding transaction balance will reduce the finance charges from those disclosed on the deferred presentment installment agreement. Following early termination of a deferred presentment installment agreement for which any payments were redeemed in cash, the drawer shall be entitled to a refund computed at the daily simple interest rate (0.57142%) for any charges paid in excess of those accrued.
(d) In no event shall the provider retain an amount that exceeds (i) the principal amount of the loan Total of Payments disclosed to the drawer on the deferred presentment installment agreement pursuant to Section 560.404(13), F.S. plus (ii) properly accrued transaction fees, and (iii) the amount of any fees accrued pursuant to Section 560.406, F.S. The provider must return refund any overcharge within ten twenty (10) calendar days of the date the final payment is redeemed in cash or the check being held that represents the final payment has cleared the provider’s financial institution.
(3)(4) Under no circumstances may the deferred presentment provider collect transaction fees from a drawer at the inception of a transaction. A provider shall not collect verification fees from the drawer at the inception of a deferred presentment transaction. All fees with respect to a deferred presentment transaction shall be collected at such time as the drawer redeems his or her personal checks or the provider presents the drawer’s personal checks for payment. For a deferred presentment installment transaction, a provider may collect verification fees from the drawer not to exceed $5. The verification fee for a deferred presentment installment transaction may be collected the first time the drawer redeems a personal check or the first time the provider presents one of the drawer’s personal checks. The verification fees incurred on a deferred presentment installment transaction shall be reflected in the provider’s payment schedule and the drawer’s check(s).
(4)(5) A deferred presentment provider shall not charge, impose, or add any other fees upon a drawer. Examples of such unauthorized fees include, but are not limited to, such items as initial application fees, drawer setup fees, etc.
(5)(6) Under no circumstances shall a provider require that a drawer purchase any other products or services as a condition of the deferred presentment transaction.
69V-560.907 Deferred Presentment Database Access.
(1) No change.
(a) A provider shall designate to the deferred presentment database vendor a security administrator to assign employee user identification numbers and passwords to employees authorized by the provider to register transactions on the deferred presentment database, to maintain provider information on the website and deferred presentment database, and to ensure the accuracy of deferred presentment database transaction information, including that the user identification and password for the employee are associated with the appropriate location from which the transaction is conducted, except for a new location as provided in section 560.307(2) or 560.208(2), F.S. Only the security administrator identification and password will be administered by the deferred presentment database vendor. The provider’s security administrator will be responsible for all other employee user identification numbers and passwords within the provider’s organization;
1. through 2. No change.
(b) through (c) No change.
(2)(a) No change.
(b) It will be the responsibility of each provider’s designated security administrator to assign user identification numbers and passwords to those employees at new branch office locations who may register deferred presentment transactions on the deferred presentment database after Form OFR-560-02 OFR-MT-2-01 (Location Notification Form) as to such branch office location has been provided to the Office of Financial Regulation.
(3) through (5) No change.
69V-560.909 Deferred Presentment Database Availability.
(1) No change.
(2) In the event the deferred presentment database is unavailable, providers shall adhere to the following procedures to determine eligibility before initiating a new deferred presentment transaction (except as provided in subsection subparagraph (3) below):
(a) through (b) No change.
(c) Within 24 hours of obtaining the temporary transaction authorization number from the database vendor, the provider shall accurately enter the remaining transactional data into the deferred presentment database.
(3) through (4) No change.
69V-560.911 Deferred Presentment Database Dispute Resolution for Customers.
(1) through (3) No change.
(4) The deferred presentment database vendor shall request any additional information from the person and the provider, regarding any negative eligibility determination, that the deferred presentment database vendor deems necessary.
69V-560.913 Termination of Deferred Presentment Activity and Transaction Maintenance.
(1) Within fifteen (15) business days after ceasing operations or no longer holding a license under part II or part III of chapter 560, F.S., a deferred presentment provider must provide notification to the Office of such action. The notice must be in writing, signed by the deferred presentment provider, and include the following:
(a) through (d) No change.
(2) The notification required in subsection paragraph (1) above must be mailed to Office of Financial Regulation, Attention: Deferred Presentment Database Contract Manager, 200 East Gaines Street, Tallahassee, Florida 32399-0376, or transmitted by facsimile to (850) 410-9914.
(3) through (5) No change.
The following change has been made to an incorporated form:
Office of Financial Regulation, Division of Consumer Finance, Form OFR-560-09, Disciplinary Guidelines for Money Services Businesses:
In response to a JAPC comment, the Office revised Violation #42 to clarify the applicable disciplinary action.
