Florida payments and fintech laws

What it would do: Amends multiple Florida statutes governing the Department of Financial Services, including revisions to the My Safe Florida Home Program and Condominium Pilot Program eligibility requirements, unclaimed property procedures, insurance licensing standards, and financial management systems.

What it would do: Establishes the Florida Stablecoin Pilot Program allowing the Department of Financial Services to accept payment stablecoins for fees, issue refunds in stablecoins, and hold stablecoins meeting specified criteria from approved issuers, with annual reporting requirements beginning February 1, 2027.

What it would do: Authorizes rounding in-person cash transactions to the nearest nickel using specified methodology if one-cent pieces are no longer in production, and provides that such rounding is not a deceptive trade practice.

What it would do: Establishes state licensing and regulatory framework for qualified payment stablecoin issuers, requiring compliance with reserve, redemption, and anti-money laundering requirements, with transition to federal oversight at $10 billion issuance threshold.

What it would do: Creates registration requirements for virtual currency kiosk businesses operating in Florida, effective March 1, 2027, including daily transaction limits of $2,000 for new customers and $10,000 for existing customers, mandatory disclosures, receipts, and refund policies.

What it would do: Creates criminal penalties for fraudulently acquiring, altering, or using gift cards or gift card redemption information without consent. Establishes first-degree misdemeanor penalties, enhanced to third-degree felony for repeat violations or when value exceeds $750.

What it would do: Requires loan originators, mortgage brokers, mortgage lenders, money services businesses, and financial institutions to develop comprehensive written information security programs and incident response plans; establishes security breach notification requirements; amends disciplinary provisions and regulatory requirements for various financial entities.

What it would do: Revises the definition of gift certificates to include stored value cards and similar instruments, and eliminates provisions allowing gift certificate expiration dates except in limited circumstances involving charitable contributions, employee incentives, loyalty programs, or event-specific certificates.

What it would do: Requires loan originators, mortgage brokers, money services businesses, and financial institutions to develop information security programs and incident response plans. Requires notification to the Office of Financial Regulation of security breaches affecting 500+ individuals and establishes data protection standards.

What it would do: Creates a registration and regulatory framework for earned wage access service providers under the Financial Services Commission, requiring registration, prohibiting certain practices like credit checks and collection actions, and mandating consumer protections including fee disclosures and no-cost options.

What it would do: Requires virtual currency kiosk businesses to register with the Office of Financial Regulation, display fraud warnings and transaction risk disclosures to customers, and use blockchain analytics to prevent transfers to criminal wallet addresses, effective March 1, 2026.

What it would do: Requires mortgage brokers, lenders, and money services businesses with 20+ employees or 500+ customers to develop and maintain comprehensive information security programs and incident response plans, and to notify the Office of Financial Regulation of breaches affecting 500+ persons.

What it would do: Creates a registration and regulatory framework for earned wage access service providers under the Financial Services Commission, requiring registration, fee disclosures, consumer protections, and prohibiting certain collection practices and credit reporting.

What it would do: Prohibits licensed money services businesses from initiating foreign remittance transfers unless they verify the sender is not an unauthorized alien, and requires them to pay a penalty equal to 25 percent of amounts transferred in violation, with quarterly audits beginning July 1, 2026.

What it would do: Prohibits licensed money services businesses from initiating foreign remittance transfers unless they verify the sender is not an unauthorized alien, and requires them to pay a penalty equal to 25 percent of amounts transferred in violation, with quarterly audits beginning July 1, 2026.

What it would do: Requires businesses at fixed or mobile premises to accept cash payments for in-person transactions if they accept other payment forms, prohibits fees for cash payments, and establishes civil penalties up to $10,000 for violations, with exceptions for remote sales, certain services, and transactions over $5,000.