Florida Senate - 2023                          SENATOR AMENDMENT
       Bill No. CS for CS for HB 1267
                              LEGISLATIVE ACTION                        
                    Senate             .             House              

       Senator Berman moved the following:
    1         Senate Amendment (with title amendment)
    3         Between lines 234 and 235
    4  insert:
    5         Section 6. Section 516.181, Florida Statutes, is created to
    6  read:
    7         516.181 Predatory loan prevention.—
    8         (1)A person may not engage in any device, subterfuge, or
    9  pretense to evade the requirements of this chapter, including,
   10  but not limited to:
   11         (a)Making, offering, or assisting, or arranging for, a
   12  borrower to obtain a consumer finance loan with a higher rate or
   13  amount of interest, consideration, charge, or other payment
   14  received incident to the loan than is authorized by this chapter
   15  through any method, including mail, telephone, the Internet, or
   16  any electronic means, regardless of whether the person has a
   17  physical location in this state; or
   18         (b)Receiving interest, fees, charges, or other payments in
   19  excess of those authorized by this chapter, regardless of
   20  whether the payment purports to be voluntary.
   21         (2)A consumer finance loan made in violation of this
   22  section is void and uncollectible as to any principal, fee,
   23  interest, charge, or payment.
   24         (3)If the consumer finance loan exceeds the rate
   25  authorized by s. 516.031, a person is deemed a lender subject to
   26  this section, regardless of whether the person purports to act
   27  as an agent or a service provider or in another capacity for
   28  another entity that is exempt from this chapter, if any of the
   29  following apply:
   30         (a)The person holds, acquires, or maintains, directly or
   31  indirectly, the predominant economic interest, risk, or reward
   32  in the loan.
   33         (b)The person:
   34         1.Markets, solicits, brokers, arranges, facilitates, or
   35  services loans; and
   36         2.Holds or has the right, requirement, or first right of
   37  refusal to acquire the loans, a share of receivables, or another
   38  direct or indirect interest in the loans or loan program.
   39         (c)The totality of the circumstances indicate that the
   40  person is the lender and that the transaction is structured to
   41  evade the requirements of this chapter. Circumstances that weigh
   42  in favor of a person being a lender subject to this section
   43  include, without limitation, whether the person:
   44         1.Indemnifies, insures, or protects an exempt entity from
   45  any costs or risks related to the loan;
   46         2.Predominantly designs, controls, or operates the loan
   47  program;
   48         3.Holds the trademark or intellectual property rights in
   49  the brand, underwriting system, or other core aspects of the
   50  loan program; or
   51         4.Purports to act as an agent or a service provider or in
   52  another capacity for an exempt entity while acting directly as a
   53  lender in other states.
   55  ================= T I T L E  A M E N D M E N T ================
   56  And the title is amended as follows:
   57         Delete line 19
   58  and insert:
   59         construction; creating s. 516.181, F.S.; prohibiting
   60         persons from engaging in actions to evade the
   61         requirements of ch. 516, F.S.; providing that consumer
   62         finance loans made in violation of such prohibitions
   63         are void and uncollectable; providing construction
   64         relating to when a person is deemed to be a lender
   65         subject to such prohibitions; creating s. 516.38,
   66         F.S.; requiring