Florida Senate - 2011 SB 116 By Senator Bullard 39-00080-11 2011116__ 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 4 verify the identity of persons applying for a loan, 5 credit card, or extension of credit; providing that 6 the knowing and willful use of personal identifying 7 information of another individual creates a rebuttable 8 presumption; providing for the forfeiture of the right 9 to collect an indebtedness for failure to verify an 10 applicant’s identity; providing an effective 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 to 15 read: 16 687.072 Applications for loans or extensions of credit.—Any 17 lender or creditor licensed or chartered under chapter 516, 18 chapter 520, chapter 657, chapter 658, chapter 665, or part XV 19 of chapter 627; any lender or creditor located in this state and 20 licensed or chartered under the laws of the United States and 21 authorized to conduct a lending business; or any lender or 22 creditor lending through a licensee under part III of chapter 23 494 or authorized to issue loans, credit cards, or extensions of 24 credit must verify the identity of the person applying for a 25 loan of money, a credit card, or an extension of credit. A 26 subsequent determination that a person who applied for a loan, 27 credit card, or extension of credit knowingly and willfully used 28 the personal identifying information of another individual 29 creates a rebuttable presumption in any subsequent collection 30 action by the lender or creditor for indebtedness that the 31 lender or creditor failed to verify the identity of the 32 applicant and that, therefore, the individual whose personal 33 identifying information was used has no liability for the debt. 34 Section 2. This act shall take effect July 1, 2011.