Florida Statute 687.14 | Lawyer Caselaw & Research

The 2024 Florida Statutes

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.

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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 Citing Statute 687.14

Total Results: 5

Dept. of Banking and Finance v. Credicorp

Court: Fla. | Date Filed: 1996-10-30T23:53:00-08:00

Citation: 684 So. 2d 746

Snippet: CONSTITUTIONALLY APPLY THE LOAN BROKER ACT, SECTION 687.14-687.148, FLORIDA STATUTES, TO AN OUT-OF-STATE RETAIL…Credicorp was a loan broker as defined in section 687.14, Florida Statutes (1991), and (4) the Loan Broker

Credicorp, Inc. v. State, Department of Banking & Finance

Court: Fla. Dist. Ct. App. | Date Filed: 1995-07-17T00:00:00-07:00

Citation: 659 So. 2d 376, 1995 Fla. App. LEXIS 7535

Snippet: CONSTITUTIONALLY APPLY THE LOAN BROKER ACT, SECTION 687.14-687.148, FLORIDA STATUTES, TO AN OUT-OF-STATE RETAIL

Ackerman v. Florida Federal Savings & Loan Ass'n

Court: Fla. Dist. Ct. App. | Date Filed: 1989-01-25T00:00:00-08:00

Citation: 537 So. 2d 687, 14 Fla. L. Weekly 267, 1989 Fla. App. LEXIS 255, 1989 WL 11386

Snippet: Downey, Gunther, Letts 25 January 1989 537 So. 2d 687, 14 Fla. L. Weekly 267, 1989 Fla. App. LEXIS 255, 1989

Viking Realty, Inc. v. Balzebre

Court: Fla. Dist. Ct. App. | Date Filed: 1988-12-27T00:00:00-08:00

Citation: 535 So. 2d 687, 14 Fla. L. Weekly 95, 1988 Fla. App. LEXIS 5670, 1988 WL 138531

Snippet: Hubbart, Jorgenson 27 December 1988 535 So. 2d 687, 14 Fla. L. Weekly 95, 1988 Fla. App. LEXIS 5670, 1988

Palm Beach County v. Town of Palm Beach

Court: Fla. Dist. Ct. App. | Date Filed: 1987-05-13T00:00:00-07:00

Citation: 507 So. 2d 1154, 12 Fla. L. Weekly 1253, 1987 Fla. App. LEXIS 8150

Snippet: Interest @ 12% to 10/01/85 5,874 4,090 3,156 1,687 14,807 Total $19,859 17,730 20,688 29,805 $88,075