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SB 392

Requirements of Lenders of Money

2025 Regular Session Introduced by Ileana Garcia

SB 392 would establish new regulatory requirements for money lenders in Florida, potentially affecting credit access and consumer protections but died in committee.

Died in Banking and Insurance
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Bill Summary · SB 392

Legislative bill overview

SB 392 would impose new regulatory requirements on money lenders in Florida, though the specific provisions are not detailed in the action history provided. The bill was introduced by Senator Ileana Garcia and referred to the Banking and Insurance committee along with Commerce and Tourism and Rules committees, indicating it involves financial services regulation.

Why is this important

Lending regulations directly affect access to credit for consumers and small businesses, interest rates, and consumer protections. Changes to lender requirements can influence the availability and cost of loans across Florida's economy, affecting both borrowers and financial institutions.

Potential points of contention

  • Regulatory burden vs. consumer protection: Stricter lender requirements may protect consumers but could increase compliance costs that lenders pass to borrowers or limit credit availability
  • Scope of affected lenders: Unclear whether requirements apply to all lenders (banks, credit unions, payday lenders, alternative lenders) equally or disproportionately impact certain business models
  • Competitive impact: New requirements might advantage larger lenders with compliance infrastructure while disadvantaging smaller lending operations

Compiled from official sources — confirm details with the bill’s official record.

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