HB 689

1	A bill to be entitled
2	An act relating to debtors and creditors; creating s.
3	687.072, F.S.; requiring lenders or creditors to verify
4	the identity of persons applying for a loan, credit card,
5	or extension of credit; providing that knowing and willful
6	use of personal identifying information of another
7	individual creates a rebuttable presumption; providing for
8	the forfeiture of any future indebtedness for failure to
9	verify an applicant's identity; providing an effective
10	date.
11
12	Be It Enacted by the Legislature of the State of Florida:
13
14	Section 1.  Section 687.072, Florida Statutes, is created
15	to read:
16	687.072  Applications for loans or extensions of
17	credit.--Any lender or creditor licensed or chartered under the
18	provisions of chapter 516, chapter 520, chapter 657, chapter
19	658, chapter 665, or part XV of chapter 627; any lender or
20	creditor located in this state and licensed or chartered under
21	the laws of the United States and authorized to conduct a
22	lending business; or any lender or creditor lending through a
23	licensee under ss. 494.006-494.0077, authorized to issue loans,
24	credit cards, or extensions of credit must verify the identity
25	of the person applying for a loan of money, a credit card, or an
26	extension of credit. A subsequent determination that a person
27	who applied for a loan, credit card, or extension of credit
28	knowingly and willfully used the personal identifying
29	information of another individual creates a rebuttable
30	presumption in any subsequent collection action by the lender or
31	creditor for indebtedness that the lender or creditor failed to
32	verify the identity of the applicant and that, therefore, the
33	individual whose personal identifying information was used has
34	no liability for the debt.
35	Section 2.  This act shall take effect July 1, 2009.

CODING: Words stricken are deletions; words underlined are additions.