69V-560.802: Minimum Disclosure
PURPOSE AND EFFECT: Rule 69V-560.802, F.A.C., is to be amended to remove deferred presentment providers from the requirement to post a schedule of fees, as there is no specific statutory authority as applied to deferred presentment providers.
SUMMARY: Rule 69V-560.802, F.A.C., is to be amended to remove deferred presentment providers from the requirement to post a schedule of fees, as there is no specific statutory authority as applied to deferred presentment providers.
SUMMARY OF STATEMENT OF ESTIMATED REGULATORY COSTS AND LEGISLATIVE RATIFICATION:
The Agency has determined that this will not have an adverse impact on small business or likely increase directly or indirectly regulatory costs in excess of $200,000 in the aggregate within one year after the implementation of the rule. A SERC has not been prepared by the agency.
The Agency has determined that the proposed rule is not expected to require legislative ratification based on the statement of estimated regulatory costs or if no SERC is required, the information expressly relied upon and described herein: 1) No requirement for a SERC was triggered under Section 120.541(1); and 2) The amendments will not exceed any one of the economic analysis criteria in a SERC, as set forth in Section 120.541(2)(a), F.S.
Any person who wishes to provide information regarding a statement of estimated regulatory costs, or provide a proposal for a lower cost regulatory alternative must do so in writing within 21 days of this notice.
RULEMAKING AUTHORITY: 560.105, 560.404(23) FS.
LAW IMPLEMENTED: 560.309 FS.
IF REQUESTED WITHIN 21 DAYS OF THE DATE OF THIS NOTICE, A HEARING WILL BE SCHEDULED AND ANNOUNCED IN THE FAW.
THE PERSON TO BE CONTACTED REGARDING THE PROPOSED RULE IS: Andy Grosmaire, Chief, Bureau of Finance Enforcement, (850)410-9848, andy.grosmaire@flofr.com
THE FULL TEXT OF THE PROPOSED RULE IS:
69V-560.802 Minimum Disclosure.
(1) Every check casher and deferred presentment provider must continuously post in a conspicuous place a clearly legible schedule of fees charged in every location and mobile unit.
(2) The term “conspicuous place” is defined herein as a place which is reasonably calculated to impart the information to the public.
Rulemaking Specific Authority 560.105, 560.404(23) FS. Law Implemented 560.309 FS. History–New 9-24-97, Amended 12-30-98, 12-17-01, Formerly 3C-560.802, Amended_________.