The 2023 Florida Statutes (including Special Session C)

Title XXXIX
COMMERCIAL RELATIONS

Chapter 687
INTEREST AND USURY; LENDING PRACTICES

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F.S. 687.14

687.14 Definitions.—As used in this act, unless the context otherwise requires:

(1) “Advance fee” means any consideration which is assessed or collected, prior to the closing of a loan, by a loan broker.

(2) “Borrower” means a person obtaining or desiring to obtain a loan of money, a credit card, or a line of credit.

(3) “Commission” means the Financial Services Commission.

(4) “Loan broker” means any person, except any bank or savings and loan association, trust company, building and loan association, credit union, consumer finance company, retail installment sales company, securities broker-dealer, real estate broker or sales associate, attorney, federal Housing Administration or United States Department of Veterans Affairs approved lender, credit card company, installment loan licensee, mortgage broker or lender, or insurance company, provided that the person excepted is licensed by and subject to regulation or supervision of any agency of the United States or this state and is acting within the scope of the license; and also excepting subsidiaries of licensed or chartered consumer finance companies, banks, or savings and loan associations; who:

(a) For or in expectation of consideration arranges or attempts to arrange or offers to fund a loan of money, a credit card, or a line of credit;

(b) For or in expectation of consideration assists or advises a borrower in obtaining or attempting to obtain a loan of money, a credit card, a line of credit, or related guarantee, enhancement, or collateral of any kind or nature;

(d) Holds herself or himself out as a loan broker.

(5) “Principal” means any officer, director, partner, joint venturer, branch manager, or other person with similar managerial or supervisory responsibilities for a loan broker.

(6) “Office” means the Office of Financial Regulation of the commission.

History.—s. 1, ch. 91-87; s. 35, ch. 93-268; s. 748, ch. 97-102; s. 57, ch. 2003-164; s. 1873, ch. 2003-261.

F.S. 687.14 on Google Scholar

F.S. 687.14 on Casetext

Amendments to 687.14

Arrestable Offenses / Crimes under Fla. Stat. 687.14

Level: Degree
Misdemeanor/Felony: First/Second/Third

Current data shows no reason an arrest or criminal charge should have occurred directly under Florida Statute 687.14.

Annotations, Discussions, Cases:

Cases from cite.case.law:

DEPARTMENT OF BANKING AND FINANCE, STATE OF FLORIDA, v. CREDICORP, INCORPORATED, CREDICORP, INCORPORATED, v. DEPARTMENT OF BANKING AND FINANCE, STATE OF FLORIDA,, 684 So. 2d 746 (Fla. 1996)

. . . MAY FLORIDA CONSTITUTIONALLY APPLY THE LOAN BROKER ACT, SECTION 687.14-687.148, FLORIDA STATUTES, TO . . . Cred-icorp without violating the Commerce Clause, (3) Credicorp was a loan broker as defined in section 687.14 . . .

CREDICORP, INCORPORATED, a W. v. STATE DEPARTMENT OF BANKING AND FINANCE,, 659 So. 2d 376 (Fla. Dist. Ct. App. 1995)

. . . importance passed upon by this decision: MAY FLORIDA CONSTITUTIONALLY APPLY THE LOAN BROKER ACT, SECTION 687.14 . . . contracts not entered into in Florida; (3) because Credicorp is not a loan broker as defined in section 687.14 . . . Although appellants contend that Credieorp is not a loan broker as defined in section 687.14(4), our . . . of any agency of the United States or this state and ... acting within the scope of the license.” § 687.14 . . . The loan broker provisions, sections 687.14-687.148, viewed in light of the cases discussed in section . . . Section 687.14(4) defines “loan broker" as: [A]ny person, except any bank or savings and loan association . . . See § 687.14(4), Fla.Stat. . . .

PHILIP LIEBER AND MRS. CLARA L. LIEBER v. THE UNITED STATES, 128 Ct. Cl. 128 (Ct. Cl. 1954)

. . . years to which attributable are as follows: 1945_$6,619.14 1946_ 10,963. 92 1947_ 21,894.49 1948_ 19, 687.14 . . .