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The Committee on Banking and Insurance (Storms) recommended the

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following amendment:

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     Senate Amendment (with directory and title amendments)

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     Delete line(s) 2231-2352

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and insert:

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Section 38.  Section 560.304, Florida Statutes, is amended

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to read:

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     560.304 Exemption from licensure Exceptions to

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registration.--The requirement for licensure under provisions of

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this part does do not apply to a person, at a location, cashing

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payment instruments that have an aggregate face value of less

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than $2,000 per person per day.

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     (1) Authorized vendors of any person registered pursuant

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to the provisions of the code, acting within the scope of

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authority conferred by the registrant.

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     (2) Persons engaged in the cashing of payment instruments

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or the exchanging of foreign currency which is incidental to the

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retail sale of goods or services whose compensation for cashing

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payment instruments or exchanging foreign currency at each site

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does not exceed 5 percent of the total gross income from the

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retail sale of goods or services by such person during its most

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recently completed fiscal year.

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     Section 39.  Section 560.309, Florida Statutes, is amended

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to read:

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     560.309 Conduct of business Rules.--

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     (1) A licensee may transact business under this part only

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under the legal name under which the person is licensed. The use

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of a fictitious name is allowed if the fictitious name has been

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registered with the Department of State and disclosed to the

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office as part of an initial license application, or subsequent

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amendment to the application, prior to its use. Before a

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registrant shall deposit, with any financial institution, a

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payment instrument that is cashed by a registrant, each such

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item must be endorsed with the actual name under which such

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registrant is doing business.

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     (2) At the time a licensee accepts a payment instrument

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that is cashed by the licensee, the payment instrument must be

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endorsed using the legal name under which the licensee is

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licensed. Registrants must comply with all the laws of this

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state and any federal laws relating to money laundering,

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including, as applicable, the provisions of s. 560.123.

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     (3) A licensee under this part must deposit or sell

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payment instruments within 5 business days after the acceptance

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of the payment instrument.

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     (4) A licensee may not accept or cash multiple payment

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instruments from a person who is not the original payee, unless

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the person is licensed to cash payment instruments pursuant to

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this part and all payment instruments accepted are endorsed with

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the legal name of the person.

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     (5) A license must report all suspicious activity to the

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office in accordance with the criteria set forth in 31 C.F.R. s.

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103.20. In lieu of filing such reports, the commission may

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prescribe by rule that the licensee may file such reports with

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an appropriate regulator.

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     (6)(3) The commission may by rule require a every check

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casher to display its license registration and post a notice

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listing containing its charges for cashing payment instruments.

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     (7)(4) Exclusive of the direct costs of verification which

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shall be established by commission rule, a no check casher may

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not shall:

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     (a)  Charge fees, except as otherwise provided by this

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part, in excess of 5 percent of the face amount of the payment

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instrument, or 6 percent without the provision of

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identification, or $5, whichever is greater;

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     (b)  Charge fees in excess of 3 percent of the face amount

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of the payment instrument, or 4 percent without the provision of

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identification, or $5, whichever is greater, if such payment

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instrument is the payment of any kind of state public assistance

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or federal social security benefit payable to the bearer of the

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such payment instrument; or

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     (c)  Charge fees for personal checks or money orders in

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excess of 10 percent of the face amount of those payment

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instruments, or $5, whichever is greater.

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     (d) As used in this subsection, "identification" means,

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and is limited to, an unexpired and otherwise valid driver

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license, a state identification card issued by any state of the

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United States or its territories or the District of Columbia,

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and showing a photograph and signature, a United States

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Government Resident Alien Identification Card, a United States

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passport, or a United States Military identification card.

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     (8) A licensee cashing payment instruments may not assess

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the cost of collections, other than fees for insufficient funds

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as provided by law, without a judgment from a court of competent

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jurisdiction.

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     (9) If a check is returned to a licensee from a payor

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financial institution due to lack of funds, a closed account, or

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a stop-payment order, the licensee may seek collection pursuant

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to s. 68.065. In seeking collection, the licensee must comply

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with the prohibitions against harassment or abuse, false or

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misleading representations, and unfair practices in the Fair

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Debt Collections Practices Act, 15 U.S.C. ss. 1692d, 1692e, and

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1692f. A violation of this subsection is a deceptive and unfair

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trade practice and constitutes a violation of the Deceptive and

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Unfair Trade Practices Act under part II of chapter 501. In

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addition, a licensee must comply with the applicable provisions

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of the Consumer Collection Practices Act under part VI of

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chapter 559, including s. 559.77.

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     Section 40.  Section 560.310, Florida Statutes, is amended

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to read:

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     560.310  Records of check cashers and foreign currency

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exchangers.--

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     (1) In addition to the record retention requirements

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specified in s. 560.110, a person engaged in check cashing must

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maintain the following:

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     (a) Customer files, as prescribed by rule, on all

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customers who cash corporate or third-party payment instruments

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exceeding $1,000.

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     (b) For any payment instrument accepted having a face

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value of $1,000 or more:

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     1. A copy of the personal identification that bears a

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photograph of the customer used as identification and presented

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by the customer. Acceptable personal identification is limited

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to a valid driver's license; a state identification card issued

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by any state of the United States or its territories or the

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District of Columbia, and showing a photograph and signature; a

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United States Government Resident Alien Identification Card; a

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passport; or a United States Military identification card.

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     2. A thumbprint of the customer taken by the licensee.

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     (c) A payment instrument log that must be maintained

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     (c) A payment instrument log that must be maintained

2/17/2008  4:30:00 PM     BI.BI.04093