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CS/CS/HB 673: Financial Institutions

GENERAL BILL by Regulatory Affairs Committee ; Government Operations Appropriations Subcommittee ; Broxson

Financial Institutions; Revises provisions relating to financial institutions & regulation by OFR; revises definitions & provisions relating to prohibited acts & practices by financial institutions; preempts regulation of certain financial institutions to state; permits local governments, DLA, & law enforcement to engage in certain proceedings; revises provisions relating to administrative fines & procedures; provides procedures to protect trade secrets; provides that provisions controlling money laundering also include terrorist financing; provides that financial institution is not liable in certain actions solely by virtue of extending loan; authorizes credit unions to pay health & accident insurance premiums & to fund employee benefit plans.

Effective Date: 7/1/2014
 Last Action: 4/28/2014 House - Laid on Table, companion bill(s) passed, see CS/CS/SB 1012 (Ch. 2014-91), CS/CS/SB 1278 (Ch. 2014-99) -HJ 804
Bill Text: PDF

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  • Bill History

    Date Chamber Action
    1/21/2014 House • Filed
    2/3/2014 House • Referred to Insurance and Banking Subcommittee; Government Operations Appropriations Subcommittee; Regulatory Affairs Committee -HJ 58
    2/12/2014 House • On Committee agenda-- Insurance and Banking Subcommittee, 02/19/14, 1:00 pm, Sumner Hall
    2/19/2014 House • Favorable by Insurance and Banking Subcommittee; YEAS 9 NAYS 0 -HJ 159
    2/20/2014 House • Now in Government Operations Appropriations Subcommittee -HJ 159
    2/28/2014 House • On Committee agenda-- Government Operations Appropriations Subcommittee, 03/04/14, 1:30 pm, Morris Hall
    3/4/2014 House • Introduced -HJ 58
    • CS by Government Operations Appropriations Subcommittee; YEAS 12 NAYS 0 -HJ 218
    3/7/2014 House • Pending review of CS under Rule 7.19(c)
    3/10/2014 House • Now in Regulatory Affairs Committee -HJ 215
    • CS by Government Operations Appropriations Subcommittee read 1st time -HJ 212
    4/8/2014 House • On Committee agenda-- Regulatory Affairs Committee, 04/10/14, 8:00 am, Sumner Hall
    4/10/2014 House • CS/CS by- Regulatory Affairs Committee; YEAS 15 NAYS 0 -HJ 542
    4/15/2014 House • Pending review of CS -under Rule 7.19(c)
    • CS/CS by Regulatory Affairs Committee read 1st time -HJ 533
    4/16/2014 House • Placed on Calendar -HJ 545
    4/23/2014 House • Placed on Special Order Calendar, 04/25/14
    4/25/2014 House • Temporarily postponed, on 2nd Reading -HJ 766
    • Placed on Special Order Calendar, 04/28/14
    4/28/2014 House • Substituted CS/CS/SB 1012 -HJ 804
    • Laid on Table, companion bill(s) passed, see CS/CS/SB 1012 (Ch. 2014-91), CS/CS/SB 1278 (Ch. 2014-99) -HJ 804

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  • CS/CS/HB 673, Committee Substitute 2 (Current Bill Version) Posted 4/15/2014 at 12:26 PM

    Bill Text:   PDF
    Analyses:   None

    Related Bills (3)

    Bill Number Subject Filed By Relationship Last Action and Location Track Bills
    H 675 (c3) Public Records Broxson Linked Last Action: 4/28/2014 H Laid on Table, companion bill(s) passed, see CS/CS/SB 1278 (Ch. 2014-99), CS/CS/SB 1012 (Ch. 2014-91) -HJ 807
    Location: Laid on Table     		Track This Bill
    S 1012 (er) Financial Services Richter Compare Last Action: 6/13/2014 Chapter No. 2014-91, companion bill(s) passed, see CS/CS/SB 1278 (Ch. 2014-99)
    Location: Became Law     		Track This Bill
    S 1278 (er) Public Records/Office of Financial Regulation Richter Compare Last Action: 6/13/2014 Chapter No. 2014-99, companion bill(s) passed, see CS/CS/SB 1012 (Ch. 2014-91)
    Location: Became Law     		Track This Bill

    Floor Amendments (3)

    Amendment Sponsor Filed Last Floor Action Format
    788155 - Amendment
    Between lines 178 and 179, insert:     		Broxson 4/24/2014
    8:21 AM     		PDF
    405961 - Amendment
    Remove line 1160 and insert:     		Broxson 4/23/2014
    8:30 PM     		PDF
    161261 - Amendment
    Between lines 1615 and 1616, insert:     		Workman 4/24/2014
    1:53 PM     		PDF

    Citations - Statutes (33)

    Citation Catchline Location in Bill Location In Bill Help
    655.005 Definitions. Page 4 (pdf)
    655.017 Page 6 (pdf)
    655.0322 Prohibited acts and practices; criminal penalties. Page 9 (pdf)
    655.034 Injunctions. Page 13 (pdf)
    655.037 Removal of a financial institution-affiliated party by the office. Page 14 (pdf)
    655.0385 Disapproval of directors and executive officers. Page 15 (pdf)
    655.041 Administrative fines; enforcement. Page 16 (pdf)
    655.045 Examinations, reports, and internal audits; penalty. Page 18 (pdf)
    655.057 Records; limited restrictions upon public access. Page 23 (pdf)
    655.0591 Page 26 (pdf)
    655.50 Florida Control of Money Laundering in Financial Institutions Act; reports of transactions involving currency or monetary instruments; when required; purpose; definitions; penalties. Page 28 (pdf)
    655.85 Settlement of checks. Page 38 (pdf)
    655.921 Transaction of business by out-of-state financial institutions; exempt transactions in the financial institutions codes. Page 38 (pdf)
    655.922 Banking business by unauthorized persons; use of name. Page 40 (pdf)
    655.948 Significant events; notice required. Page 44 (pdf)
    655.955 Page 45 (pdf)
    657.008 Place of doing business. Page 45 (pdf)
    657.028 Activities of directors, officers, committee members, employees, and agents. Page 49 (pdf)
    657.041 Insurance. Page 51 (pdf)
    658.12 Definitions. Page 53 (pdf)
    658.21 Approval of application; findings required. Page 53 (pdf)
    658.235 Subscriptions for stock; approval of major shareholders. Page 54 (pdf)
    658.49 Loans by banks not exceeding $50,000. Page 55 (pdf)
    663.02 Applicability of state banking laws. Page 55 (pdf)
    663.09 Reports; records. Page 56 (pdf)
    663.12 Fees; assessments; fines. Page 57 (pdf)
    663.306 Decision by office. Page 58 (pdf)
    665.013 Applicability of chapter 658. Page 59 (pdf)
    665.033 Conversion of state or federal mutual association to capital stock association. Page 59 (pdf)
    665.034 Acquisition of assets of or control over an association. Page 60 (pdf)
    667.003 Applicability of chapter 658. Page 61 (pdf)
    667.006 Conversion of state or federal mutual savings bank or state or federal mutual association to capital stock savings bank. Page 61 (pdf)
    667.008 Acquisition of assets of or control over a savings bank. Page 62 (pdf)

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  • CS/HB 673, Committee Substitute 1 Posted 3/7/2014 at 11:16 AM

    Bill Text:   PDF
    Analyses:   Regulatory Affairs Committee (Post-Meeting) 4/15/2014 (pdf)

    Related Bills (3)

    Bill Number Subject Filed By Relationship Last Action and Location Track Bills
    H 675 (c2) Pub. Rec./Office of Financial Regulation Broxson Linked Last Action: 4/28/2014 H Laid on Table, companion bill(s) passed, see CS/CS/SB 1278 (Ch. 2014-99), CS/CS/SB 1012 (Ch. 2014-91) -HJ 807
    Location: Laid on Table     		Track This Bill
    S 1012 (c1) Financial Institutions Richter Similar Last Action: 6/13/2014 Chapter No. 2014-91, companion bill(s) passed, see CS/CS/SB 1278 (Ch. 2014-99)
    Location: Became Law     		Track This Bill
    S 1278 (c2) Public Records/Office of Financial Regulation Richter Compare Last Action: 6/13/2014 Chapter No. 2014-99, companion bill(s) passed, see CS/CS/SB 1012 (Ch. 2014-91)
    Location: Became Law     		Track This Bill

    Committee Amendments (3)

    Amendment Sponsor Filed Last Committee Action Format
    025037 - Amendment
    Between lines 133 and 134, insert:     		Broxson 4/9/2014
    8:16 PM     		Adopted without Objection
    4/11/2014     		PDF
    733173 - Amendment
    Between lines 1057 and 1058, insert:     		Broxson 4/9/2014
    8:18 PM     		Adopted without Objection
    4/11/2014     		PDF
    036033 - Amendment
    Between lines 1057 and 1058, insert:     		Broxson 4/9/2014
    8:19 PM     		Adopted without Objection
    4/11/2014     		PDF

    Citations - Statutes (30)

    Citation Catchline Location in Bill Location In Bill Help
    655.005 Definitions. Page 4 (pdf)
    655.0322 Prohibited acts and practices; criminal penalties. Page 6 (pdf)
    655.034 Injunctions. Page 10 (pdf)
    655.037 Removal of a financial institution-affiliated party by the office. Page 11 (pdf)
    655.0385 Disapproval of directors and executive officers. Page 12 (pdf)
    655.041 Administrative fines; enforcement. Page 13 (pdf)
    655.045 Examinations, reports, and internal audits; penalty. Page 15 (pdf)
    655.057 Records; limited restrictions upon public access. Page 20 (pdf)
    655.0591 Page 23 (pdf)
    655.50 Florida Control of Money Laundering in Financial Institutions Act; reports of transactions involving currency or monetary instruments; when required; purpose; definitions; penalties. Page 25 (pdf)
    655.85 Settlement of checks. Page 35 (pdf)
    655.921 Transaction of business by out-of-state financial institutions; exempt transactions in the financial institutions codes. Page 36 (pdf)
    655.922 Banking business by unauthorized persons; use of name. Page 37 (pdf)
    657.008 Place of doing business. Page 41 (pdf)
    657.028 Activities of directors, officers, committee members, employees, and agents. Page 45 (pdf)
    657.041 Insurance. Page 47 (pdf)
    658.12 Definitions. Page 49 (pdf)
    658.21 Approval of application; findings required. Page 49 (pdf)
    658.235 Subscriptions for stock; approval of major shareholders. Page 50 (pdf)
    658.49 Loans by banks not exceeding $50,000. Page 51 (pdf)
    663.02 Applicability of state banking laws. Page 51 (pdf)
    663.09 Reports; records. Page 52 (pdf)
    663.12 Fees; assessments; fines. Page 53 (pdf)
    663.306 Decision by office. Page 54 (pdf)
    665.013 Applicability of chapter 658. Page 55 (pdf)
    665.033 Conversion of state or federal mutual association to capital stock association. Page 55 (pdf)
    665.034 Acquisition of assets of or control over an association. Page 56 (pdf)
    667.003 Applicability of chapter 658. Page 57 (pdf)
    667.006 Conversion of state or federal mutual savings bank or state or federal mutual association to capital stock savings bank. Page 57 (pdf)
    667.008 Acquisition of assets of or control over a savings bank. Page 58 (pdf)

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  • HB 673, Original Filed Version Posted 1/21/2014 at 9:28 AM

    Bill Text:   PDF
    Analyses:   Insurance and Banking Subcommittee (Post-Meeting) 6/30/2014 (pdf)
    Government Operations Appropriations Subcommittee (Post-Meeting) 3/7/2014 (pdf)

    Related Bills (3)

    Bill Number Subject Filed By Relationship Last Action and Location Track Bills
    H 675 (c1) Pub. Rec./Office of Financial Regulation Broxson Linked Last Action: 4/28/2014 H Laid on Table, companion bill(s) passed, see CS/CS/SB 1278 (Ch. 2014-99), CS/CS/SB 1012 (Ch. 2014-91) -HJ 807
    Location: Laid on Table     		Track This Bill
    S 1012 Financial Institutions Richter Similar Last Action: 6/13/2014 Chapter No. 2014-91, companion bill(s) passed, see CS/CS/SB 1278 (Ch. 2014-99)
    Location: Became Law     		Track This Bill
    S 1278 Public Records/Office of Financial Regulation Richter Compare Last Action: 6/13/2014 Chapter No. 2014-99, companion bill(s) passed, see CS/CS/SB 1012 (Ch. 2014-91)
    Location: Became Law     		Track This Bill

    Committee Amendments (3)

    Amendment Sponsor Filed Last Committee Action Format
    755975 - Amendment
    Remove lines 406-412 and insert:     		Broxson 3/3/2014
    6:15 PM     		Adopted without Objection
    3/4/2014     		PDF
    316959 - Amendment
    Remove line 545 and insert:     		Broxson 3/3/2014
    6:16 PM     		Adopted without Objection
    3/4/2014     		PDF
    759339 - Amendment
    Remove line 611 and insert:     		Broxson 3/3/2014
    6:16 PM     		Adopted without Objection
    3/4/2014     		PDF

    Citations - Statutes (30)

    Citation Catchline Location in Bill Location In Bill Help
    655.005 Definitions. Page 4 (pdf)
    655.0322 Prohibited acts and practices; criminal penalties. Page 6 (pdf)
    655.034 Injunctions. Page 10 (pdf)
    655.037 Removal of a financial institution-affiliated party by the office. Page 11 (pdf)
    655.0385 Disapproval of directors and executive officers. Page 12 (pdf)
    655.041 Administrative fines; enforcement. Page 13 (pdf)
    655.045 Examinations, reports, and internal audits; penalty. Page 15 (pdf)
    655.057 Records; limited restrictions upon public access. Page 20 (pdf)
    655.0591 Page 23 (pdf)
    655.50 Florida Control of Money Laundering in Financial Institutions Act; reports of transactions involving currency or monetary instruments; when required; purpose; definitions; penalties. Page 25 (pdf)
    655.85 Settlement of checks. Page 35 (pdf)
    655.921 Transaction of business by out-of-state financial institutions; exempt transactions in the financial institutions codes. Page 36 (pdf)
    655.922 Banking business by unauthorized persons; use of name. Page 37 (pdf)
    657.008 Place of doing business. Page 41 (pdf)
    657.028 Activities of directors, officers, committee members, employees, and agents. Page 45 (pdf)
    657.041 Insurance. Page 47 (pdf)
    658.12 Definitions. Page 49 (pdf)
    658.21 Approval of application; findings required. Page 49 (pdf)
    658.235 Subscriptions for stock; approval of major shareholders. Page 50 (pdf)
    658.49 Loans by banks not exceeding $50,000. Page 51 (pdf)
    663.02 Applicability of state banking laws. Page 51 (pdf)
    663.09 Reports; records. Page 52 (pdf)
    663.12 Fees; assessments; fines. Page 53 (pdf)
    663.306 Decision by office. Page 54 (pdf)
    665.013 Applicability of chapter 658. Page 55 (pdf)
    665.033 Conversion of state or federal mutual association to capital stock association. Page 55 (pdf)
    665.034 Acquisition of assets of or control over an association. Page 56 (pdf)
    667.003 Applicability of chapter 658. Page 57 (pdf)
    667.006 Conversion of state or federal mutual savings bank or state or federal mutual association to capital stock savings bank. Page 58 (pdf)
    667.008 Acquisition of assets of or control over a savings bank. Page 58 (pdf)

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