Florida Statute 687.143 - Full Text and Legal Analysis

The 2025 Florida Statutes

Title XXXIX
COMMERCIAL RELATIONS

Chapter 687
INTEREST AND USURY; LENDING PRACTICES

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687.143 Loan brokers; investigations; cease and desist orders; administrative fines.—

(1) The office may investigate the actions of any person for compliance with this act.

(2) The office may order a loan broker to cease and desist whenever the office determines that the loan broker has violated or is violating or will violate any provision of this act, any rule of the commission, order of the office, or written agreement entered into with the office.

(3) The office may impose and collect an administrative fine against any person found to have violated any provision of this act, any rule of the commission, order of the office, or written agreement entered into with the office in any amount not to exceed $5,000 for each such violation. All fines collected hereunder shall be deposited in the Bureau of Financial Investigations Administrative Trust Fund.

History.—s. 4, ch. 91-87; s. 3, ch. 97-60; s. 1875, ch. 2003-261.

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Amendments to 687.143

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Cases Citing Statute 687.143

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Credicorp, Inc. v. State, Dep't of Banking & Fin., 659 So. 2d 376 (Fla. Dist. Ct. App. 1995).

Published | District Court of Appeal of Florida | 1995 Fla. App. LEXIS 7535, 20 Fla. L. Weekly Fed. D 1639

...rvices or merchandise from other retailers. We reject Credicorp’s argument that it is protected because the line of credit and credit card offers were in truth neither. V Finally, the award of penalties was within the permissible range as found in section 687.143 and is supported by competent substantial evidence....

...line of credit or related guarantee, enhancement, or collateral of any kind or nature; (c) Acts for or on behalf of a loan broker for the purpose of soliciting borrowers; or (d) Holds himself out as a loan broker. .Penalties were imposed pursuant to section 687.143(3), Florida Statutes (1991), which provides: (3) The department may impose and collect an administrative fine against any person found to have violated any provision of this act, any rule or order promulgated by the department, or any...

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