Florida Revises Requirements For Third-Party Debt Collectors

more+
less-

Effective October 1, 2014, third-party debt collectors seeking to collect debt in Florida will be subject to new requirements. Pursuant to HB 413, which Florida Governor Rick Scott signed on June 13, consumer collection agencies will be subject to disqualifying periods from registration based on the severity and recency of criminal convictions of certain “control persons” of those agencies. Control persons is defined as any individual, partnership, corporation, trust, or other organization that possesses the power, directly or indirectly, to direct the management or policies of a company, whether through ownership of securities, by contract, or otherwise. The bill also grants the Office of Financial Regulation authority to examine and investigate consumer collection agencies, and establishes new reporting requirements for registrants.

 


DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© BuckleySandler LLP | Attorney Advertising

Written by:

more+
less-

BuckleySandler LLP on:

Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.
×
Loading...
×
×