MONEY TRANSMITTERS
CHAPTER 69V-560, FAC

PART I APPLICATION AND REGISTRATION OF NEW FUNDS TRANSMITTERS,
PAYMENT INSTRUMENT SELLERS, CHECK CASHERS, FOREIGN CURRENCY EXCHANGERS,
DEFERRED PRESENTMENT PROVIDERS, LOCATIONS AND AUTHORIZED VENDORS
69V-560.101 Scope.
69V-560.102 Application Forms, Procedures and Requirements.
69V-560.103 Definitions.
69V-560.104 Application Fees.
69V-560.105 Regulatory Standards for Evaluating Applications.
69V-560.107 Registration of Locations and Authorized Vendors.
69V-560.108 Declaration of Intent to Engage in Deferred Presentment Transactions.

PART II PROCEDURES FOR CHANGE OF CONTROL
69V-560.201 Requirements.
69V-560.202 Regulatory Standards for Evaluating Notices of Change of Control.

PART III RENEWAL OF REGISTRATIONS
69V-560.301 Scope.
69V-560.302 Renewal Deadlines, Late Fees and Requirements.
69V-560.303 Renewal Application Forms, Procedures and Requirements.
69V-560.304 Renewal Fees.

PART IV BOND AND NET WORTH (FOR PART II REGISTRANTS ONLY)
69V-560.401 Scope.
69V-560.402 Bond.
69V-560.403 Net Worth.

PART V EXAMINATIONS
69V-560.501 Scope.

PART VI REPORTING REQUIREMENTS
69V-560.601 Definitions.
69V-560.602 Quarterly Reports to Be Filed by Check Cashers.
69V-560.603 Quarterly Reports to Be Filed by Foreign Currency Exchangers.
69V-560.604 Quarterly Reports to Be Filed by Funds Transmitters.
69V-560.605 Quarterly Reports to Be Filed by Payment Instrument Sellers.
69V-560.606 Annual Filing of Financial Statements by Part II Registrants.
69V-560.607 Quarterly Reports to Be Filed by Deferred Presentment Providers.

PART VII RECORDS
69V-560.701 General.
69V-560.702 Payment Instrument Sellers.
69V-560.703 Funds Transmitters.
69V-560.704 Records to Be Maintained by Check Cashers.
69V-560.705 Foreign Currency Exchangers.
69V-560.706 Records to be Maintained by Authorized Vendors.
69V-560.707 Records to be Maintained by Deferred Presentment Providers.

PART VIII CHECK CASHER VERIFICATION FEE, MINIMUM DISCLOSURE, AND PAYMENT METHOD
69V-560.801 Verification Fee.
69V-560.802 Minimum Disclosure.
69V-560.804 Payment Method.
69V-560.805 Gross Income Test.

PART IX DEFERRED PRESENTMENT TRANSACTIONS
69V-560.901 Scope.
69V-560.902 Definitions.
69V-560.903 Deferred Presentment Transactions.
69V-560.904 Transaction Agreement Disclosures and Requirements.
69V-560.905 Transaction Fees.
69V-560.906 Consumer Credit Counseling Services.
69V-560.907 Database Access.
69V-560.908 Database Transaction Requirements.
69V-560.909 Database Availability.
69V-560.910 Database Transaction Fees.
69V-560.911 Database Dispute Resolution for Customers.
69V-560.912 Database Confidentiality.

PART I APPLICATION AND REGISTRATION OF NEW FUNDS TRANSMITTERS, PAYMENT INSTRUMENT SELLERS, CHECK CASHERS, FOREIGN CURRENCY EXCHANGERS, DEFERRED PRESENTMENT PROVIDERS, LOCATIONS AND AUTHORIZED VENDORS

69V-560.101 Scope.
These rules contain the specific procedures and policies for filing and evaluating applications to become registered as a payment instrument seller, funds transmitter, check casher, deferred presentment provider, or foreign currency exchanger. This chapter shall govern in any case where there is a conflict or inconsistency with other rules of the Financial Services Commission or Office of Financial Regulation.
Specific Authority 560.105(3) FS. Law Implemented 560.204, 560.303(1), 560.403 FS. History–New 9-24-97, Amended 11-4-01, Formerly 3C-560.101.

69V-560.102 Application Forms, Procedures and Requirements.
(1) Forms. Application forms for all registrations covered by these rules may be obtained at no cost from the Office of Financial Regulation's website (www.dbf.state.fl.us), by telephone, or in writing. All applications must be in the format required by the Office of Financial Regulation. Requests for forms should be sent to: Office of Financial Regulation, 200 East Gaines Street, Tallahassee, Florida 32399-0375.
(2)(a) Applications in the format required by the Office of Financial Regulation, accompanied by the prescribed fee for the requested registration, shall be filed with the Office of Financial Regulation at the address in subsection (1) above. No application will be deemed filed or received unless accompanied by the proper filing fee; or
(b) In lieu of filing the required application forms, an applicant may file the application information electronically by following the applicable instructions on the Office of Financial Regulation's website (www.dbf.state.fl.us) on the Internet.
(3)(a) All applicants for registration must file a completed application Form OFR-MT-5-01, Application to Register as a Money Transmitter Pursuant to Chapter 560, F.S., effective 10/01, which is hereby incorporated by reference.
(b) All applicants for registration who propose to engage in deferred presentment transactions as defined in Section 560.402, F.S., shall file a completed Form OFR-MT-3-01, Declaration of Intent to Engage in Deferred Presentment Transactions, effective 10/01, which is hereby incorporated by reference, together with the required nonrefundable fee for deferred presentment providers. Applicants must be registered pursuant to Part II or Part III of Chapter 560, F.S., in order to engage in deferred presentment transactions.
(c) All applicants for registration shall submit a completed Form OFR-MT-2-01, Location Notification Form, effective 10/01, which is hereby incorporated by reference, for each proposed “location” as defined in Rule 69V-560.103, F.A.C., not including the applicant's primary business location, together with the required nonrefundable fee.
(d) All applicants for registration as a payment instrument seller or funds transmitter shall file audited financial statements prepared in accordance with generally accepted accounting principles that are dated within 90 days prior to the date the application is received by the Office of Financial Regulation, and if available, audited financial statements for the immediately preceding 2-year period. In cases where the applicant is a wholly owned subsidiary of another corporation, the parent's consolidated audited financial statements may be submitted to satisfy this requirement. If the date of the application is more than 90 days after the applicant's fiscal year-end audited financial statements, the applicant shall file unaudited financial statements reviewed by an independent certified public accountant for the period subsequent to the audit report, together with the audited financial statements for the most recent fiscal year. If the applicant has been in business less than 12 months, and has not prepared an audited financial statement, the applicant may file unaudited financial statements reviewed by an independent certified public accountant.
(4)(a) The responsible person who will be in charge of the applicant's business activities in this state, and each existing or proposed director, executive officer, principal, member, and controlling shareholders shall complete Form OFR-MT-7-01, Biographical Form, effective 10/01, which is hereby incorporated by reference. If any of the foregoing individuals are non-U.S. Citizens, Addendum (1) to the Biographical Form shall also be completed and filed.
(b) An existing or proposed director, executive officer, controlling shareholder, and responsible person shall review and attest to the accuracy of the forms submitted on his or her behalf.
(5) The responsible person who will be in charge of the applicant's business activities in this state, and each existing or proposed director, executive officer, principal, member and all controlling shareholders, unless exempt under Section 560.205(1) or 560.306(1), F.S., shall file a completed Florida Fingerprint Card (FL921050Z) accompanied by a nonrefundable $47 processing fee. If the Federal Bureau of Investigation cannot process the fingerprint card because of illegible fingerprints, a second card must be submitted. If that card cannot be processed, it will be necessary to submit a third card along with a nonrefundable fee of $24 to cover the cost of processing the card. The Office of Financial Regulation reserves the right to require as many submissions of fingerprint cards and fees as may be necessary until such time as the card can be properly processed by the appropriate law enforcement agency. Any applicant claiming the statutory exemption from the fingerprint requirement shall submit evidence to support its claim to the exemption.
(6) Confidential Information. All information contained in applications filed with the Office of Financial Regulation shall be open for public inspection, with the exception of information specifically made confidential by statute.
(7) Request for Additional Information. All information the applicant wants to present to support the application should be submitted with the original filing. Any request for additional information will be made by the Office of Financial Regulation within thirty (30) days after receipt of the application. The additional information must be received by the Office of Financial Regulation within forty-five (45) days from the date of the request. Failure to respond within forty-five (45) days from the date of the request shall be grounds for the Office of Financial Regulation to deny the application for failure to complete the application.
(8)(a) Amendment of Application. A request to amend an application must be in writing and shall be submitted to the Office of Financial Regulation at the address in subsection (1).
(b) Provided the Office of Financial Regulation has not already docketed a Notice of Intent to Deny the Application, an applicant may amend the application after receiving written permission from the Office of Financial Regulation following the Office of Financial Regulation's review of and determination that the applicant's written request to amend:
1. Promotes the safe and sound conduct of the applicant;
2. Maintains public confidence in the applicant and the money transmitter industry;
3. Protects the interests of the public in the money transmitter system;
4. Deters the use of the applicant and the money transmitter system as a vehicle for money laundering; and
5. Shall not be denied pursuant to paragraph (c), if the request to amend makes a material change to the application.
(c) A request to amend which makes a material change to the application or to the Office of Financial Regulation's evaluation of the application is a violation of subsection (7) and the Office of Financial Regulation shall deny the application in accordance with Section 560.114(1)(a), F.S., unless the applicant has made a good faith effort to comply with the statutory requirements of Chapter 560, F.S., and the rules of this chapter. Material changes include:
1. Changes in net worth;
2. The substitution or addition of a director, responsible person, or controlling shareholder;
3. Change in registration;
4. Any change requiring additional information or documentation than that which is or will be furnished by the applicant in the request to amend; and
5. Any change relating to the bond or collateral security item.
(d) When the Office of Financial Regulation grants a request to amend which makes a material change to the application, the amended application shall be treated as a new application with respect to the applicable rules of this chapter, except that no additional filing fee shall be required, unless the material change upgrades the filing from a Part III applicant to a Part II applicant or there is a change in the applicant or the applicant's corporate structure.
(9) When an application is denied on the grounds set forth above, the applicant shall be duly notified.
Specific Authority 215.405, 560.105(3), 560.118(2), 560.205(1), 560.205(2), 560.403(1) FS. Law Implemented 215.405, 560.102, 560.118, 560.129, 560.204, 560.205, 560.303(1), 560.305, 560.306, 560.307, 560.403 FS. History–New 9-24-97, Amended 11-4-01, 12-11-03, Formerly 3C-560.102.

69V-560.103 Definitions.
For the purposes of this chapter, the following definitions shall apply:
(1) “Agent” means an authorized vendor, as that term is defined in Section 560.103(2), F.S.
(2) “Applicant,” with respect to the initial application for registration, means the corporation, partnership, association, individual, trust, or other group however organized, on behalf of which the application is being filed. For purposes of renewal, the “Applicant” is the registrant authorized by the Office of Financial Regulation to operate pursuant to Chapter 560, F.S.
(3) “Audited Financial Statements” shall be defined as those financial statements prepared by an independent certified public accountant, and shall include at least the following information:
(a) Date of report, manual signature, city and state where issued, and identification with detailed enumeration the financial statements and schedules covered by the report;
(b) Representations as to whether the audit was made in accordance with generally accepted auditing standards and designation of any auditing procedures deemed necessary by the accountant under the circumstances of the particular case which may have been omitted, and the reason for their omission; nothing in this rule however shall be construed to imply authority for the omission of any procedure which independent accountants would ordinarily employ in the course of an audit for the purpose of expressing the opinions required under this rule;
(c) Statements of the opinion of the accountant in respect to the financial statements and schedules covered by the report and the accounting principles and practices reflected therein, and as to the consistency of the application of the accounting principles and practices reflected therein, and as to the consistency of the application of the accounting principles, or as to any changes in such principles which would have a material effect on the financial statements;
(d) Any matters to which the accountant takes exception shall be clearly identified, the exception thereto specifically and clearly stated, and, to the extent practicable, the effect of each such exception on the related financial statements given.
(4) “Controlling shareholder” means any individual who exercises control as defined by Section 560.127, F.S.
(5) “Correspondent” means the individual designated by the existing or proposed Board of Directors, or other authorized party, to act on its behalf in all matters required to process the application.
(6) “Financial Statements” shall be defined as those reports, schedules and statements, prepared in accordance with Generally Accepted Accounting Principles, which contain at least the following information:
(a) Statement of Financial Condition (Balance Sheet); and
(b) Statement of Income.
(7) “Individual” means a natural person.
(8) “Location” means a branch of the registrant or an authorized vendor where business activity regulated by Chapter 560, F.S., occurs.
(9) “Money transmitter” means any person located in or doing business in this state that acts as or performs the activities of a payment instrument seller, foreign currency exchanger, check casher, funds transmitter, or deferred presentment provider.
(10) “Person” means any individual, corporation, partnership, association, trust, or other group, however organized.
(11) “Registrant” means a person registered by the Office of Financial Regulation pursuant to Part II or Part III of the Money Transmitters' Code.
(12) “Responsible person” means any individual who has principal active management authority over the business as defined by Section 560.103(18), F.S.
(13) “Unaudited Financial Statements” shall be defined as those financial statements prepared in accordance with Generally Accepted Accounting Principles and reviewed by a Certified Public Accountant, but not accompanied by the statements and representations as set forth in paragraphs (3)(b), (c), and (d) of this rule.
(14) “Holiday” means such days as are designated by Section 110.117, F.S.
(15) “Gross Income” means Gross Revenue (Sales) – Cost of Goods Sold.
Specific Authority 560.105(2) FS. Law Implemented 560.103, 560.118(2), 560.205(3), (4), 560.208 FS. History–New 9-24-97, Amended 11-4-01, Formerly 3C-560.103, Amended 9-14-04.

69V-560.104 Application Fees.
(1) An initial application for registration as a funds transmitter or payment instrument seller shall be accompanied by a nonrefundable application fee of $500.00.
(2) An initial application for registration as a check casher or foreign currency exchanger shall be accompanied by a
nonrefundable application fee of $250.00.
(3) Each initial application shall also be accompanied by a $50.00 nonrefundable fee for each proposed location or authorized vendor, excluding applicant's primary business location, from which the applicant proposes to conduct business.
(4) Each initial application shall include a $1,000.00 nonrefundable “Declaration of Intent to Engage in Deferred Presentment Transactions” fee from any applicant who is proposing to engage in the business of a deferred presentment provider.
(5) Applicable fees for all initial applications may be paid by the applicant electronically by following the applicable
instructions on the Office of Financial Regulation's website (www.dbf.state.fl.us) on the Internet.
Specific Authority 560.105(3) FS. Law Implemented 560.205(2), 560.306, 560.307, 560.403 FS. History–New 9-24-97, Amended 11-4-01, Formerly 3C-560.104.

69V-560.105 Regulatory Standards for Evaluating Applications.
(1) When an application to register as a money transmitter is filed with the Office of Financial Regulation, it is the applicant's responsibility to prove that the statutory criteria warranting the grant of registration are met. The Office of Financial Regulation shall conduct an investigation pursuant to Section 560.205, 560.206, or 560.306, F.S., as applicable. The Office of Financial Regulation shall deny applications in accordance with Section 560.114, F.S.
(2) The Office of Financial Regulation shall conduct background investigations on the responsible person who will be in charge of all the applicant's business activities in this state and each existing or proposed director, executive officer, principal, member and all controlling shareholders to determine whether the qualifications and requirements for registration have been met.
Specific Authority 560.105(3) FS. Law Implemented 560.109, 560.114, 560.205, 560.206, 560.306 FS. History–New 9-24-97, Amended 11-4-01, Formerly 3C-560.105.

69V-560.107 Registration of Locations and Authorized Vendors.
(1) Every registrant shall designate all locations and authorized vendors operating prior to October 1, 2001 by:
(a) Filing all of the information required by Form OFR-MT-2-01 (Location Notification Form) with the Office of Financial Regulation on or before December 1, 2001 for all locations and authorized vendors. After December 1, 2001, the registrant shall file all location information in accordance with subsection (2) of this rule; and
(b) No fee shall be required for the registration of locations and authorized vendor locations in operation prior to October 1, 2001 that have been designated by the registrant in accordance with the provisions of paragraph (a).
(2) Every registrant that commences operations at locations in this state on or after October 1, 2001 shall:
(a) File a completed Form OFR-MT-2-01 (Location Notification Form) which must be received by the Office of Financial Regulation within sixty (60) calendar days from the date that a location opens or an authorized vendor commences operations on behalf of the registrant on or after October 1, 2001;
(b) Demonstrate the required net worth for Part II registrants in accordance with the provisions of subsection 69V-560.606(4), F.A.C.; and
(c) Submit the required $50 fee.
(3) Every registrant shall be responsible for filing a completed Form OFR-MT-2-01 within sixty (60) calendar days from the date that a location closes or authorized vendor either ceases operation or has its authority to act on the registrant's behalf terminated by such registrant.
(4) In lieu of filing Form OFR-MT-2-01, a registrant may notify the Office of Financial Regulation of the opening or closing of locations and authorized vendors electronically by following the applicable instructions on the Office of Financial Regulation's website (www.dbf.state.fl.us) on the Internet.
Note: The sixty (60) day period referenced in subsections (2) and (3) above is solely for the filing of the required form and payment of the required nonrefundable fee. A registrant must notify the Office of Financial Regulation and pay the required fee for all locations of the registrant and authorized vendors that commence operations on behalf of the registrant. If the registrant for any reason closes a location or terminates the relationship with such authorized vendor within the first sixty (60) days, it will not relieve the registrant of the obligation to notify the Office of Financial Regulation in accordance with the provisions of this subsection.
Specific Authority 560.105(3), 560.208(3) FS. Law Implemented 560.205, 560.208, 560.307 FS. History–New 11-4-01, Formerly 3C-560.107.

69V-560.108 Declaration of Intent to Engage in Deferred Presentment Transactions.
(1) All registrants actively registered pursuant to Part II or Part III of Chapter 560, F.S., before October 1, 2001 and who are acting as a deferred presentment provider as defined by Section 560.402, F.S., shall file a completed Form OFR-MT-3-01 (Declaration of Intent to Engage in Deferred Presentment Transactions). This form and the required nonrefundable fee must be received by the Office of Financial Regulation by November 30, 2001.
(2) After October 1, 2001, any person who seeks to act as a deferred presentment provider as defined in Section 560.402, F.S., shall:
(a) Be registered pursuant to Part II or Part III of Chapter 560, F.S., and must at all times thereafter remain registered pursuant to Part II or Part III; and
(b) Submit a completed Form OFR-MT-3-01 (Declaration of Intent to Engage in Deferred Presentment Transactions) together with the required nonrefundable fee for deferred presentment providers.
(3) A registrant may not convey authority to an authorized vendor to engage in deferred presentment transactions on behalf of the registrant.
(4) In lieu of filing Form OFR-MT-3-01 (Declaration of Intent to Engage in Deferred Presentment Transactions), such declaration of intent may be made electronically by following the applicable instructions on the Office of Financial Regulation's website (www.dbf.state.fl.us) on the Internet.
Specific Authority 560.105(3), 560.403 FS. Law Implemented 560.403 FS. History–New 11-4-01, Formerly 3C-560.108.

PART II PROCEDURES FOR CHANGE OF CONTROL

69V-560.201 Requirements.
Notices of change of control will be processed pursuant to Section 560.127, F.S.
(1) Regardless of whether the change of control involves a registered money transmitter, an Application to Register as a Money Transmitter (Form OFR-MT-5-01) shall be filed. All information requested by that form shall be submitted to the Office of Financial Regulation, along with the required nonrefundable application fee as set forth in Rule 69V-560.104, F.A.C. The written notification should provide the Office of Financial Regulation with information concerning the change of control, including the proposed effective date and any significant changes to be made to the registrant's present business.
(2) The responsible person who will be in charge of the applicant's business activities in this state, each existing or proposed director, executive officer, principal, member and all controlling shareholders, unless exempt under Section 560.205(1) or 560.306(1), F.S., shall file a completed Florida Fingerprint Card (FL921050Z) accompanied by a $47 nonrefundable processing fee. No fingerprint card will be required from any person described above who has been reported to the Office of Financial Regulation by the registrant and for whom the Office of Financial Regulation has received the required Biographical Form (Form OFR-MT-7-01) prior to October 1, 2001. If the Federal Bureau of Investigation cannot process the fingerprint card because of illegible fingerprints, a second card must be submitted. If that card cannot be processed, it will be necessary to submit a third card along with a nonrefundable fee of $24 to cover the cost of processing the card. The Office of Financial Regulation reserves the right to require as many submissions of such fingerprint cards and fees as may be necessary until such time as the card can be properly processed by the appropriate law enforcement agency. Any applicant claiming the statutory exemption from the fingerprint requirement shall submit evidence to support its claim to the exemption.
(3) An original of all parts of the application shall be filed, together with the appropriate filing fee at the following address:
Office of Financial Regulation, 200 East Gaines Street, Tallahassee, Florida 32399-0375.
(4) For purposes of this chapter “control” shall have the meaning defined in Section 560.127, F.S.
Specific Authority 215.405, 560.105(3) FS. Law Implemented 215.405, 560.127, 560.204, 560.205, 560.303(1), 560.305, 560.306, 560.307 FS. History–New 9-24-97, Amended 11-4-01, 12-11-03, Formerly 3C-560.201.

69V-560.202 Regulatory Standards for Evaluating Notices of Change of Control.
When a notice of change of control of a registered money transmitter is filed, it is the applicant's responsibility to prove that the statutory criteria warranting the grant of authority are met. The Office of Financial Regulation shall conduct an investigation pursuant to Section 560.127(3), F.S. If the Office of Financial Regulation determines that any one of the criteria set forth in Section 560.127(3)(a) or (b), F.S., is not met, or any act in Section 560.114, F.S., is or has been committed, the Office of Financial Regulation may deny the change in control. Additionally, should the change of control involve an unregistered money transmitter and/or unregistered person(s), the Office of Financial Regulation will conduct an investigation pursuant to Section 560.206 and/or 560.306, F.S. The Office of Financial Regulation shall deny the application in accordance with Section 560.114, F.S.
Specific Authority 560.105(3) FS. Law Implemented 560.109, 560.114, 560.127, 560.205, 560.206, 560.306 FS. History–New 9-24-97, Amended 11-4-01, Formerly 3C-560.202.

PART III RENEWAL OF REGISTRATIONS

69V-560.301 Scope.
These rules contain the specific procedures for filing and evaluating renewal applications for registered payment instrument sellers, funds transmitters, check cashers, foreign currency exchangers, deferred presentment providers, locations and authorized vendors.
Specific Authority 560.105(3) FS. Law Implemented 560.207, 560.308, 560.403 FS. History–New 9-24-97, Amended 11-4-01, Formerly 3C-560.301.

69V-560.302 Renewal Deadlines, Late Fees and Requirements.
(1)(a) Payment Instrument Seller or a Funds Transmitter (Part II registrant): Registrations issued to Part II registrants shall remain effective through April 30 of the second year following the date of issuance of the registration, not to exceed 24 months, unless during such period the registration is surrendered, suspended, or revoked.
(b) All renewal applications for Part II registrants must be filed on or after January 1 of the year in which the existing
registration expires, but before the expiration date of April 30. If a renewal application is filed within 60 calendar days after the expiration date of an existing registration, the renewal application and renewal fees shall be accompanied by a nonrefundable late fee of $500.00. If the registrant has not filed a renewal application within 60 calendar days after the expiration date of an existing registration, a new application shall be filed pursuant to Section 560.205, F.S.
(2)(a) Check Casher or Foreign Currency Exchanger (Part III registrant): Registrations issued to Part III registrants shall remain in effect through the remainder of the second calendar year (December 31) following the date the registration was issued. Thereafter, renewals are issued for a 24-month period from December 31 of the year the registration or renewal expires, unless during such period the registration is surrendered, suspended, or revoked.
(b) All renewal applications for Part III registrants must be filed on or after June 1 of the year in which the existing registration expires, but not later than December 31 of that year. A renewal application, renewal fees, and a late fee of $250.00 must be filed within 60 calendar days after the expiration date of an existing registration in order for the registration to be reinstated. If the registrant has not filed a renewal application within 60 days after the expiration date of an existing registration, a new application must be filed pursuant to Section 560.307, F.S.
(3)(a) Deferred Presentment Providers (Part IV): The “Declaration of Intent to Engage in Deferred Presentment Transactions” shall expire concurrently with the registrant's Part II or Part III registration. A registrant who intends to continue to engage in deferred presentment transactions must concurrently renew their registration pursuant to Part II or Part III in order to remain qualified to act as a deferred presentment provider. The renewal of a deferred presentment provider's “Declaration of Intent to Engage in Deferred Presentment Transactions” shall be indicated on Form OFR-MT-6-01 (Application to Renew Registration as a Money Transmitter Pursuant to Chapter 560, F.S.), and submitted together with the required nonrefundable renewal fee for a deferred presentment provider.
(b) A renewal declaration of intent and fee, and a late fee of $500.00, must be filed within 60 calendar days after the expiration of an existing registration in order for the declaration of intent to be reinstated. If the registrant has not filed a renewal declaration of intent within 60 days after the expiration date of an existing registration, a new declaration must be filed.
(4) If any date in this rule falls on a weekend or holiday, the renewal application together with the required renewal fees and any applicable late fees must be received by the Office of Financial Regulation by the close of business on the next business day.
Specific Authority 560.105(3) FS. Law Implemented 560.206, 560.207, 560.308, 560.403 FS. History–New 9-24-97, Amended 12-30-98, 11-4-0, Formerly 3C-560.302.

69V-560.303 Renewal Application Forms, Procedures and Requirements.
((1) Applicants for renewal of registration must complete Form OFR-MT-6-01, Application to Renew Registration as a Money Transmitter, effective 10/01, which is hereby incorporated by reference. Copies of such forms can be obtained by request from the Office of Financial Regulation at the address specified in subsection (4) below.

(2) The renewal application shall include any substantial changes that have occurred to registrant since its last application to the Office of Financial Regulation. These substantial changes include, but shall not be limited to, a change or an addition to an executive officer, director, principal, member, controlling shareholders, or responsible person/manager. A completed Biographical Form OFR-MT-7-01, shall be submitted for each new individual, and, in the case of a non-U.S. citizen, Addendum (1) to Form OFR-MT-7-01, shall be attached to the renewal application. The fingerprint cards required by subsection 69V-560.102(5), F.A.C., and the Biographical Form (Form OFR-MT-7-01) shall be submitted only for those person(s) who have not previously  submitted such documents in connection with the registrant. Other changes, such as any new businesses acquired, change in address, change in name, material litigation, criminal convictions, etc., shall be reported, as required on the renewal form.

(3) If, as a result of subsection (1) above, a Biographical Form is required on any individual, the individual shall review and attest to the accuracy of the form.

(4)(a) An original of all parts of the application shall be filed, together with the appropriate filing fee as specified in Rule 69V-560.304, F.A.C., at the following address: Division of Securities and Finance, Office of Financial Regulation, 200 East Gaines Street, Tallahassee, Florida 32399-0376.

(b) In lieu of filing the required forms, a registrant may renew its registration, locations, authorized vendors, and “Declaration of Intent to Engage in Deferred Presentment Transactions” electronically at the time of renewal by following the applicable instructions on the Office of Financial Regulation’s website (www.flofr.com/licensing) on the Internet.

(5) Processing. Applications to renew registration as a money transmitter shall be processed, where applicable, pursuant to the provisions of Rules 69V-560.101 through 69V-560.108, F.A.C.Specific Authority 560.105(3) FS. Law Implemented 560.114(1), 560.205(2), (3), 560.207, 560.305, 560.308 FS. History–New 9-24-97, Amended11-4-01, Formerly 3C-560.303, Amended 9-4-06.

69V-560.304 Renewal Fees.
(1) A renewal application for funds transmitter or payment instrument seller registration (Part II registrant) shall be
accompanied by a nonrefundable renewal fee of $1,000.00, plus $50.00 for each location being renewed, including branch offices and offices of authorized vendors, operating within this state, or a total 2-year nonrefundable fee of $20,000.00 to register all such locations operating within this state. The $50.00 location fee shall not apply to the registrant's primary business address.
(2) A renewal application for check casher or foreign currency exchanger registration (Part III registrant) shall be accompanied by a renewal fee of $500.00, plus $50.00 for each location being renewed, including branch offices and offices of authorized vendors, operating within this state, or a total of 2-year nonrefundable fee of $20,000.00 to register all such locations operating within this state. The $50.00 location fee shall not apply to the registrant's primary business address.
(3) Every deferred presentment provider shall renew its Declaration of Intent to Engage in Deferred Presentment Transactions to remain a deferred presentment provider at the same time as they renew their Part II or Part III registration accompanied by the required nonrefundable fee of $1,000.00.
(4) All fees required to renew the registration of a money transmitter may be paid electronically by following the applicable instructions on the Office of Financial Regulation's website (www.dbf.state.fl.us) on the Internet.
Specific Authority 560.105(3) FS. Law Implemented 560.207, 560.308, 560.403 FS. History–New 9-24-97, Amended 11-4-01, Formerly 3C-560.304.

PART IV BOND AND NET WORTH (FOR PART II REGISTRANTS ONLY)

69V-560.401 Scope.
These rules contain the requirements concerning a registrant's, or a proposed registrant's, corporate surety and net worth. Only Part II Registrants (payment instrument sellers or funds transmitters) are required to post a bond or collateral deposit and to maintain a minimum net worth.
Specific Authority 560.105(3) FS. Law Implemented 560.209 FS. History–New 9-24-97, Formerly 3C-560.401.

69V-560.402 Bond.
(1) No registration shall be issued until an acceptable corporate surety bond, collateral deposit or combination thereof has been deposited with the Office of Financial Regulation and/or insured financial institution as specified in Section 560.209, F.S.
(2) The corporate surety bond must be issued by a bonding company or insurance company authorized to do business in this state.
(3) All items pledged in lieu of a corporate surety bond must be held or deposited at a federally insured financial institution as defined by Section 655.005(1)(h), F.S. The bond form included in Form OFR-MT-5-01, must be executed by the federally insured financial institution and the applicant.
(4)(a) Items eligible to be pledged to the Office of Financial Regulation in lieu of a corporate surety bond are limited to those items specified in Section 560.209(3)(a), F.S., and letters of credit issued by financial institutions with deposit insurance from the Federal Deposit Insurance Corporation.
(b) For purposes of Section 560.209(3), F.S., the term “interest-bearing stock” means preferred stock.
(5)(a) The required bond, collateral deposit or combination thereof for initial registration shall be calculated in accordance with Form OFR-MT-5-01.
(b) The required bond, collateral deposit or combination thereof for renewal registration shall be calculated in accordance with Form OFR-MT-6-01.
(c) The required bond, collateral deposit or combination thereof shall not exceed $250,000.00, unless the Office of Financial
Regulation determines that an extraordinary circumstance, such as those of Section 560.209(2)(a), F.S., exists which requires an additional amount above $250,000.00. However, the maximum bond, collateral deposit or combination thereof shall be
$500,000.00.
(6) The bond, collateral deposit or combination thereof shall remain in place for 5 years after the registrant ceases operations in this state. The security shall be reduced or eliminated prior to that time upon written approval, if the Office of Financial Regulation determines that the registrant's outstanding payment instruments or funds transmitted in this state have been paid or reduced and that such lesser amount adequately protects the interests of the public.
(7) A registrant must at all times have and maintain the bond, collateral deposit or combination thereof in the amount prescribed by the Office of Financial Regulation. If the Office of Financial Regulation at any time reasonably determines that the bond or elements of the collateral deposit are insecure, deficient in amount, or exhausted in whole or in part, the Office of Financial Regulation shall, by written order, require the filing of a new or supplemental bond or the deposit of new or additional collateral deposit items.
Specific Authority 560.105(3), 560.209(2)(a) FS. Law Implemented 560.207, 560.209 FS. History–New 9-24-97, Amended 12-30-98, 11-4-01, Formerly 3C-560.402.

69V-560.403 Net Worth.
Any person engaging in a registered activity shall meet the net worth stated in Section 560.209(1), F.S. Upon the Office of Financial Regulation's request, a person must fully support, through items including, but not limited to, appraisals, receipts, titles, or bank account statements, the value or ownership they have assigned to an asset(s).
Specific Authority 560.105(3) FS. Law Implemented 560.209(1) FS. History–New 9-24-97, Formerly 3C-560.403.

PART V EXAMINATIONS

69V-560.501 Scope.
The Office of Financial Regulation shall conduct regular periodic examinations of a money transmitter or authorized vendor with at least 15 days prior notice. Whenever the Office of Financial Regulation has reason to believe that a money transmitter or authorized vendor is engaging in an unsafe or unsound practice or has violated or is violating any provision of the Money Transmitter Code, the Office of Financial Regulation shall conduct an examination without providing advance notice if the Office of Financial Regulation determines that an examination is necessary to determine the condition of the money transmitter or to determine the degree of noncompliance.
Specific Authority 560.105(3) FS. Law Implemented 560.118 FS. History–New 9-24-97, Formerly 3C-560.501.

PART VI REPORTING REQUIREMENTS

69V-560.601 Definitions.
As used in this section, the following definitions shall apply:
(1) “Quarter” and “quarterly” mean March 31, June 30, September 30, and December 31 of each calendar year.
(2) “Forty-five (45) days after the conclusion of each quarter” means the end of business on the forty-fifth day after the last calendar day of each calendar quarter.
(3) “Holiday” means such days as are designated by Section 110.117, F.S.
Specific Authority 560.105(3) FS. Law Implemented 560.118(2) FS. History–New 9-24-97, Amended 12-30-98, 11-4-01, Formerly 3C-560.601.

69V-560.602 Quarterly Reports to Be Filed by Check Cashers.
(1) Every registered check casher shall submit a quarterly report to the Office of Financial Regulation on Form OFR-MT-1-01, Money Transmitter Quarterly Report Form, effective 10/01, which is hereby incorporated by reference. Such report shall be received by the Office of Financial Regulation no later than forty-five (45) days after the conclusion of each quarter and shall be sent to Division of Securities and Finance at the address listed in subsection 69V-560.102(1), F.A.C. Should the forty-fifth day fall on a weekend or holiday, the reports must be received by the Office of Financial Regulation no later than the next business day.
(2) In lieu of filing Form OFR-MT-1-01, a registrant may submit the required quarterly report information electronically on or before the deadline by following the applicable instructions on the Office of Financial Regulation's website (www.dbf.state.fl.us) on the Internet.
(3) The Office of Financial Regulation shall levy a late payment penalty of $100.00 per day or part thereof that a report is past due. A report is “past due” if it is received by the Office of Financial Regulation one or more days beyond the period defined in subsection (1).
Specific Authority 560.105(3), 560.118(2)(b) FS. Law Implemented 560.118(2) FS. History–New 9-24-97, Amended 12-30-98, 11-4-01, Formerly 3C-560.602.

69V-560.603 Quarterly Reports to Be Filed by Foreign Currency Exchangers.
(1) Every registered foreign currency exchanger shall submit a quarterly report to the Office of Financial Regulation on Form OFR-MT-1-01, Money Transmitter Quarterly Report Form, effective 10/01, which is hereby incorporated by reference. Such report shall be received by the Office of Financial Regulation no later than forty-five (45) days after the conclusion of each quarter and shall be sent to Division of Securities and Finance at the address listed in subsection 69V-560.102(1), F.A.C. Should the forty-fifth day fall on a weekend or holiday, the reports must be received by the Office of Financial Regulation no later than the next business day.
(2) In lieu of filing Form OFR-MT-1-01, a registrant may submit the required quarterly report information electronically on or before the deadline by following the applicable instructions on the Office of Financial Regulation's website (www.dbf.state.fl.us) on the Internet.
(3) The Office of Financial Regulation shall levy a late payment penalty of $100.00 per day or part thereof that a report is past due. A report is “past due” if it is received by the Office of Financial Regulation one or more days beyond the period defined in subsection (1).
Specific Authority 560.105(3), 560.118(2)(b) FS. Law Implemented 560.118(2), 560.123 FS. History–New 9-24-97, Amended 12-30-98, 11-4-01, Formerly 3C-560.603.

69V-560.604 Quarterly Reports to Be Filed by Funds Transmitters.
(1) Every registered funds transmitter shall submit a quarterly report to the Office of Financial Regulation on Form OFR-MT-1-01, Money Transmitter Quarterly Report Form, effective 10/01, which is hereby incorporated by reference. Such report shall be received by the Office of Financial Regulation no later than forty-five (45) days after the conclusion of each quarter and shall be sent to Division of Securities and Finance at the address listed in subsection 69V-560.102(1), F.A.C. Should the forty-fifth day fall on a weekend or holiday, the reports must be received by the Office of Financial Regulation no later than the next business day.
(2) In lieu of filing Form OFR-MT-1-01, a registrant may submit the required quarterly report information electronically on or before the deadline by following the applicable instructions on the Office of Financial Regulation's website (www.dbf.state.fl.us) on the Internet.
(3) The Office of Financial Regulation shall levy a late payment penalty of $100.00 per day or part thereof that a report is past due. A report is “past due” if it is received by the Office of Financial Regulation one or more days beyond the period defined in subsection (1).
Specific Authority 560.105(3), 560.118(2)(b) FS. Law Implemented 560.118(2), 560.123, 560.210 FS. History–New 9-24-97, Amended 11-4-01, Formerly 3C-560.604.

69V-560.605 Quarterly Reports to Be Filed by Payment Instrument Sellers.
(1) Every registered payment instrument seller shall submit a quarterly report to the Office of Financial Regulation on Form OFR-MT-1-01, Money Transmitter Quarterly Report Form, effective 10/01, which is hereby incorporated by reference. Such report shall be received by the Office of Financial Regulation no later than forty-five (45) days after the conclusion of each quarter and shall be sent to Division of Securities and Finance at the address listed in subsection 69V-560.102(1), F.A.C. Should the forty-fifth day fall on a weekend or holiday, the reports must be received by the Office of Financial Regulation no later than the next business day.
(2) In lieu of filing Form OFR-MT-1-01, a registrant may submit the required quarterly report information electronically on or before the deadline by following the applicable instructions on the Office of Financial Regulation's website (www.dbf.state.fl.us) on the Internet.
(3) The Office of Financial Regulation shall levy a late payment penalty of $100.00 per day or part thereof that a report is past due. A report is “past due” if it is received by the Office of Financial Regulation one or more days beyond the period defined in subsection (1).
Specific Authority 560.105(3), 560.118(2)(b) FS. Law Implemented 560.118(2), 560.123, 560.210 FS. History–New 9-24-97, Amended 11-4-01, Formerly 3C-560.605.

69V-560.606 Annual Filing of Financial Statements by Part II Registrants.
(1)(a) Each registered funds transmitter shall annually submit audited financial statements to the Office of Financial Regulation for the registrant's most recent fiscal year.
(b) Each registered payment instrument seller shall annually submit audited financial statements to the Office of Financial Regulation for the registrant's most recent fiscal year unless it is exempt pursuant to Section 560.118(2)(a), F.S. Any registrant claiming such exemption shall submit such claim in writing on Form OFR-MT-4-01, Money Transmitter Audited Financial Statement Exemption Claim Form, effective 10/01, which is hereby incorporated by reference. The claim shall be executed by the registrant or an officer of the registrant under penalty of perjury. The exemption shall be valid for the current fiscal year only, and must be resubmitted each year by the registrant.
(c) Any payment instrument seller exempted from the requirement to submit audited financial statements shall file unaudited financial statements reviewed by a certified public accountant.
(2) Annual financial statements must be received by the Office of Financial Regulation within ninety (90) days of the registrant's fiscal year end.
(3) The Office of Financial Regulation shall levy a late payment penalty of $100.00 per day or part thereof that a report is past due. A report is “past due” if it is received by the Office of Financial Regulation one or more days beyond the period defined in subsection (2).
(4) For purposes of adding new locations or authorized vendors, a Part II registrant may rely upon its annual financial statements that were received by the Office of Financial Regulation in a timely manner as required in subsections (1) and (2) of this rule or the net worth disclosure required by Form OFR-MT-2-01. The Office of Financial Regulation reserves the right to require additional documentation up to and including the submission of financial statements to substantiate the net worth disclosure on Form OFR-MT-2-01.
Specific Authority 560.105(3), 560.118(2)(a), 560.205(3)(f), (4)(d) FS. Law Implemented 560.118(2), 560.205, 560.208 FS. History–New 11-4-01, Formerly 3C-560.606.

69V-560.607 Quarterly Reports to Be Filed by Deferred Presentment Providers.
(1) Every registered deferred presentment provider shall submit a quarterly report to the Office of Financial Regulation on Form OFR-MT-1-01, Money Transmitter Quarterly Report Form, effective 10/01, which is hereby incorporated by reference. Such report shall be received by the Office of Financial Regulation no later than forty-five (45) days after the conclusion of each quarter and shall be sent to Division of Securities and Finance at the address listed in subsection 69V-560.102(1), F.A.C. Should the forty-fifth day fall on a weekend or holiday, the reports must be received by the Office of Financial Regulation no later than the next business day.
(2) In lieu of filing Form OFR-MT-1-01, a registrant may submit the required quarterly report information electronically on or before the deadline by following the applicable instructions on the Office of Financial Regulation's website (www.dbf.state.fl.us) on the Internet.
(3) The Office of Financial Regulation shall levy a late payment penalty of $100.00 per day or part thereof that a report is past due. A report is “past due” if it is received by the Office of Financial Regulation one or more days beyond the period defined in subsection (1).
Specific Authority 560.105(3), 560.118(2) FS. Law Implemented 560.118(2) FS. History–New 11-4-01, Formerly 3C-560.607
.
PART VII RECORDS

69V-560.701 General.
Each money transmitter shall maintain records required in Sections 560.211(1) and 560.310(1), F.S., and Rules 69V-560.702-.705, F.A.C., for at least 3 years, unless a longer period of time is required by federal or state law or regulations. Any readily accessible and retrievable form is acceptable, in lieu of maintaining original documents.
Specific Authority 560.105(3) FS. Law Implemented 560.211, 560.310 FS. History–New 9-24-97, Formerly 3C-560.701.

69V-560.702 Payment Instrument Sellers.
A payment instrument seller shall maintain records of the following information, which must be obtained for each issuance or sale of a payment instrument, regardless of the amount:
(1) The date of purchase;
(2) The serial number(s) of the payment instrument(s) purchased;
(3) The amount in dollars of each of the instruments purchased; and
(4) A general ledger containing all assets, liabilities, capital, income, and expense accounts. The general ledger shall be
updated at least monthly.
Specific Authority 560.105(3) FS. Law Implemented 560.211 FS. History–New 9-24-97, Formerly 3C-560.702.

69V-560.703 Funds Transmitters.
A funds transmitter shall maintain records of the following information, which must be obtained for each funds transmission,
regardless of the amount:
(1) The name and address of the customer;
(2) A numbered receipt for each transaction;
(3) The address of the office where the transaction was conducted;
(4) The name and address of the beneficiary or recipient;
(5) Any instructions or messages relating to the transmission; and
(6) The method of payment (e.g., currency, check, credit card, etc.).
Specific Authority 560.105(3) FS. Law Implemented 560.211 FS. History–New 9-24-97, Formerly 3C-560.703.

69V-560.704 Records to Be Maintained by Check Cashers.
(1) Every check casher shall maintain records of all payment instruments cashed. The records shall include the following information with respect to each payment instrument accepted by the registrant:
(a) The name of the maker;
(b) The address of the maker;
(c) The date appearing on the payment instrument;
(d) The amount of the payment instrument;
(e) The check number of the payment instrument accepted;
(f) The fee charged to cash the payment instrument;
(g) The verification fee, if any, imposed on the customer; and
(h) A line item description of the steps taken to verify the customer's identity.
(2) The following additional information shall be maintained:
(a) Records relating to all returned payment instruments that shall include, if known, the following:
1. The date the payment instrument was returned to the registrant;
2. The name and address of the maker;
3. The check number of the payment instrument accepted;
4. The amount of the returned payment instrument;
5. The date of deposit by the registrant;
6. The NSF fees, if any, imposed on the customer;
7. The date on which collection is made from the customer or charged-off by the registrant; and
8. A brief description of the method by which collection was ultimately achieved.
(b) A daily summary of the business activities including the following documents:
1. Bank deposit receipts;
2. Copies of checks or withdrawal receipts evidencing withdrawal of funds from accounts maintained by the registrant; and
3. A daily cash reconciliation summarizing each day's activities and reconciling cash on hand at the close of business.
(c) Bank statements of the registrant received and maintained no less often than monthly for all accounts from which the registrant operates.
(d) A copy of the customer's written authorization to electronically debit the customer's account if the registrant intends to make use of such practice.
(e) A copy of all payment instruments accepted by the registrant. The copy of the customer's payment instrument shall suffice as compliance with the requirements of paragraphs (1)(a) through (e) and subparagraphs (2)(a)1. through 4. of this rule. The registrant may include the reasonable cost of such photocopy as part of the verification fee allowed pursuant to Rule 69V-560.801, F.A.C., if such fee is charged to that customer.
(f) A photocopy of the customer's verifiable means of identification, and any other documentation the money transmitter collects from the customer in order to verify the customer's identity. The registrant shall only be required to make photocopies where a verification fee has been imposed.
Specific Authority 560.105(3) FS. Law Implemented 560.310 FS. History–New 9-24-97, Amended 11-4-01, Formerly 3C-560.704.

69V-560.705 Foreign Currency Exchangers.
(1) A foreign currency exchanger shall maintain receipts for each transaction, regardless of the amount. The receipts must include the date of the transaction, the amount and type of currency received and given in exchange.
(2) In addition to the above records, foreign currency exchangers must maintain records of the amount of each bank deposit, including currency deposited.
Specific Authority 560.105(3) FS. Law Implemented 560.310 FS. History–New 9-24-97, Formerly 3C-560.705.

69V-560.706 Records to be Maintained by Authorized Vendors.
(1) Every authorized vendor of a money transmitter shall maintain at the location registered with the Office of Financial Regulation all records required by Sections 560.211(1) and 560.310(1), F.S., and Rules 69V-560.702 through 69V-560.705, F.A.C., for at least 3 years, unless a longer period of time is required by federal or state law or regulations. Any readily accessible and retrievable form is acceptable, in lieu of maintaining original documents.
(2) Every authorized vendor of a money transmitter shall maintain at all times a copy of the written agreement between the money transmitter and the authorized vendor. It will only be necessary for the agreement to be maintained at the authorized vendor's primary business address. Such agreements shall be made available to Office of Financial Regulation personnel upon request.
Specific Authority 560.105(3) FS. Law Implemented 560.205, 560.211, 560.307, 560.310 FS. History–New 11-4-01, Formerly 3C-560.706.

69V-560.707 Records to be Maintained by Deferred Presentment Providers.
(1) Every deferred presentment provider shall maintain the following records at a location in this state which has been designated to the Office of Financial Regulation:
(a) A copy of each personal check accepted for each deferred presentment transaction.
(b) A copy of each transaction agreement between the deferred presentment provider and the drawer that meets the
requirements of Rule 69V-560.904, F.A.C.
(c) If applicable, a copy of each document relating to any consumer credit counseling services provided for each drawer including:
1. A signed and dated notice from the drawer that he or she is unable to cover the check or to repay the provider on or before the last day of the deferment period, and that he or she agrees to complete consumer credit counseling and comply with a repayment agreement approved by a consumer credit counseling agency;
2. All correspondence received from or sent to the drawer or the consumer credit counseling agency chosen by the drawer; and
3. A copy of the drawer's repayment plan approved by the consumer credit counseling agency including records that
substantiate the drawer's compliance with such agreement.
(d) Records relating to all returned personal checks that shall include, if applicable, the following:
1. The date the personal check was returned to the provider;
2. The name and address of the drawer;
3. The check number of the personal check;
4. The dollar amount of the personal check;
5. The date of deposit by the provider;
6. The NSF fees imposed, if applicable, on each drawer;
7. The date on which collection is made from the drawer; and
8. A description of the method by which collection was ultimately achieved.
(e) A daily summary of the business activities including the following documents:
1. Bank deposit receipts;
2. Copies of checks and withdrawal receipts evidencing withdrawal of funds from accounts maintained by the provider; and
3. A daily cash reconcilement summarizing each day's activities and reconciling cash on hand at the close of business.
(f) Bank statements of the provider received and maintained, no less often than monthly, for all accounts from which the provider operates. A complete legible copy of the provider's bank statement will be accepted if the original bank statement is not available.
(g) A copy of the drawer's written authorization to electronically debit the drawer's account if the provider intends to make use of such practice.
(h) The copy of the drawer's personal check shall constitute compliance with the requirements of subparagraphs (d)1. through 4. of this rule. The provider may include the reasonable cost of such copy as part of the verification fee allowed pursuant to Rule 69V-560.801, F.A.C., if such fee is charged to that drawer.
(i) A copy of the drawer's verifiable means of identification and any other documentation the provider collects in order to verify the drawer's identity.
(j) Copies of receipts provided to the drawer, which evidence the termination of the transaction. The drawer shall receive and the provider shall maintain a copy of the receipt for each transaction redeemed in cash or certified funds of their check or when evidence of clearing has been provided to the provider. The receipt shall include, but is not limited to the date, time, transaction number, and amount.
(k) Copies of documentation presented to the provider as evidence of clearing.
(2) The records referenced in subsection (1) above may be maintained by the provider in accordance with the provisions of Section 560.407(4), F.S.
Specific Authority 560.105(2), 560.404(23) FS. Law Implemented 560.404, 560.407 FS. History–New 12-17-01, Formerly 3C-560.707, Amended 9-14-04.

PART VIII CHECK CASHER VERIFICATION FEE, MINIMUM DISCLOSURE, AND PAYMENT METHOD

69V-560.801 Verification Fee.
(1) In addition to the fees established in Section 560.309(4), F.S., a check casher or deferred presentment provider may collect the direct costs associated with verifying a payment instrument holder's identity, residence, employment, credit history, account status, or other necessary information, including the verification of a drawer's status on the Office of Financial Regulation's administered database for deferred presentment transactions prior to cashing the payment instrument or accepting a personal check in connection with a deferred presentment transaction. Such verification fee shall be collected only when verification is conducted and shall not exceed $5.00 per transaction. For example, a check casher shall not charge a drawer more than one (1) verification fee per diem, regardless of whether the check casher is cashing or has cashed more than one (1) of the drawer's payment instruments that day.
(2) It is the responsibility of the registrant to document that verification fees are based upon the actual costs associated with such verification.
Specific Authority 560.105(3), 560.404(23) FS. Law Implemented 560.309(4), 560.404(6) FS. History–New 9-24-97, Amended 12-17-01, Formerly 3C-560.801.

69V-560.802 Minimum Disclosure.
(1) Every check casher and deferred presentment provider must continuously post in a conspicuous place a clearly legible schedule of fees charged in every location and mobile unit.
(2) The term “conspicuous place” is defined herein as a place which is reasonably calculated to impart the information to the public.
Specific Authority 560.105(3), 560.404(23) FS. Law Implemented 560.302(1), 560.309 FS. History–New 9-24-97, Amended 12-30-98, 12-17-01, Formerly 3C-560.802.

69V-560.804 Payment Method.
(1) Payment shall be made immediately in currency for every payment instrument received by a person engaging in the activities of a check casher.
(2) For purposes of this chapter, “currency” shall have the meaning defined in Section 560.103(6), F.S.
(3) Each deferred presentment provider shall immediately provide the drawer with currency for the full amount of his or her personal check to be held by the provider, less only the fees authorized by Section 560.404, F.S. Only deferred presentment providers that are Part II registrants may provide a payment instrument in lieu of currency; however, such a provider shall not require a drawer to accept a payment instrument in lieu of currency.
Specific Authority 560.105(3), 560.404(23) FS. Law Implemented 560.302(1), 560.309, 560.404 FS. History–New 9-24-97, Amended 12-17-01, Formerly 3C-560.804.

69V-560.805 Gross Income Test.
For purposes of determining whether a person is engaged in the business of check cashing for which registration is required the following formula will be applied: Compensation for Check Cashing/Foreign Currency Exchange Gross Income + Compensation for Check Cashing/Foreign Currency Exchange

Specific Authority 560.105(2) FS. Law Implemented 560.304(2) FS. History–New 9-14-04.

PART IX DEFERRED PRESENTMENT TRANSACTIONS

69V-560.901 Scope.
This section contains the specific requirements for deferred presentment providers with respect to the procedures employed to accomplish a deferred presentment transaction.
Specific Authority 560.105(3), 560.404(23) FS. Law Implemented 560.404 FS. History–New 12-17-01, Formerly 3C-560.901.

69V-560.902 Definitions.
(1) The term “provider” means a deferred presentment provider as defined by Section 560.402(5), F.S.
(2) The term “close of business” means the time of day that a provider closes its office to the public for that calendar day.
(3) The term “database” means the Office of Financial Regulation administered transactional database authorized by Section 560.404(23), F.S.
(4) The term “database vendor” means the vendor, which contracted with the Office of Financial Regulation for the purpose of developing and administering the daily operations of the database.
(5) The term “registered” means that a deferred presentment provider has provided to the database the information required to identify a valid deferred presentment transaction.
(6) The term “recorded” means that the database has assigned a transaction authorization number to a registered transaction, logged it as an open transaction, and communicated the transaction authorization number to the deferred presentment provider.
(7) The term “consumer credit counseling” means a confidential comprehensive personal money management review, including budget counseling resulting in a written assessment of the client's financial situation by the consumer credit counselor which includes a suggested client action plan based upon a range of options chosen according to the best interests of the client. The suggested client action plan may include: the client handling their financial concerns on their own; enrollment in a debt repayment plan managed by the credit counseling agency; and/or information about bankruptcy other than legal advice.
(8) The term “notice” means written communication to the last address provided to the Office of Financial Regulation by regular mail, electronic mail, or facsimile; provided that notice to the Office of Financial Regulation must be to the DPP Database Contract Manager, Office of Financial Regulation, 200 East Gaines Street, Tallahassee, Florida 32399-0375, or by electronic mail to electronic_licensing@mail.dbf.state.fl.us, or by facsimile to DPP Database Contract Manager, Office of Financial Regulation, (850)410-9279.
(9) The term “open transaction” or “open” means a transaction which has been registered and recorded but not terminated or pending.
(10) The term “pending transaction” or “pending” means an open transaction that is in the process of clearing the banking system, in the 60-day grace period pursuant to Section 560.404(22)(a), F.S., or returned to the provider pursuant to Section 560.406, F.S.
(11) The term “closed transaction” or “close” means a transaction terminated as provided in subsection 560.903(1), F.S.
(12) The term “immediately” means prior to the customer exiting the location in all circumstances except for depositing of checks, processing of ACH items for collection, or grace period related updates. In such instance, the term shall mean not later than 11:59 p.m. on the date that the event creating the need for the database update occurs.
Specific Authority 560.105(2), 560.404(23) FS. Law Implemented 560.402, 560.404 FS. History–New 12-17-01, Amended 4-17-02, Formerly 3C-560.902, Amended 9-14-04.

69V-560.903 Deferred Presentment Transactions.
(1)(a) A deferred presentment transaction shall be considered terminated at such time as the check that is the basis of the deferred presentment agreement has been:
1. Redeemed by the drawer by payment to the provider of the face amount of the check in cash;
2. Exchanged by the provider for a cashier's check or cash from the drawer's financial institution;
3. Deposited by the provider and such provider has evidence that such check has cleared in accordance with subsection (2);
4. Collected by the provider through any civil remedy available under Part IV of Chapter 560, F.S.; or
5. Collected by means of a repayment plan between the drawer and the provider or as the result of credit counseling where the provider has been paid the amount required under such plan.
6. Deposited by the provider or processed for collection through the ACH system and the provider has not received notice within 14 days that the check has been returned for insufficient funds, stop payment or closed account. The database will automatically close the transaction after 14 days if the provider has updated the transaction status to reflect the deposit and no action has been taken by the provider to update the database to reflect that the check has been returned as discussed above.
a. Notwithstanding the automatic termination provision of subparagraph 69V-560.903(1)(a)6., F.A.C., providers shall immediately close all transactions in the database when a transaction is terminated as required by subsection 69V-560.908(6), F.A.C.
(b) In the event that the amount collected from the drawer exceeds the face amount of the check, the provider shall notify the drawer that he or she may retrieve such excess at the provider's location where the initial agreement between the drawer and provider was executed.
(c) Each deferred presentment provider shall develop and implement written policies and procedures relating to the
reconciliation of returned items where termination of the existing transaction is accomplished pursuant to subparagraph 69V-560.903(1)(a)6., F.A.C., which clearly supports the timely and accurate update of transactional information on the database.
(2)(a) The drawer shall provide evidence to the provider that his or her check that was the basis of a previous deferred presentment transaction has cleared the drawer's account at least 24 hours prior to entering into a new deferred presentment transaction (except that the provider may obtain such evidence as provided in subparagraph 4. below). Evidence of a check having cleared the drawer's account may include, but shall not be limited to:
1. A copy of the drawer's bank statement showing the check has cleared;
2. The canceled check or a copy of the canceled check;
3. A copy of any other record provided by the drawer's financial institution or electronic network to which that financial institution subscribes such as an ATM inquiry that shows the check to have cleared; or
4. A verbal representation from the drawer's financial institution to the provider that the drawer's check has cleared, if the drawer's financial institution will provide such representation.
(b) Upon receipt of evidence that a drawer's check that is the basis of a previous deferred presentment transaction has cleared, the provider shall immediately update the database to close the transaction. The provider who deposited the drawer's check is the only provider that can close the transaction on the database.
(c) The provider shall retain a copy of the evidence presented by the drawer which it relies upon to terminate an existing deferred presentment transaction.
Specific Authority 560.105(2), 560.404(23) FS. Law Implemented 560.404 FS. History–New 4-17-02, Formerly 3C-560.903, Amended 9-14-04.

69V-560.904 Transaction Agreement Disclosures and Requirements.
(1)(a) Each deferred presentment transaction agreement must contain the following:
1. The drawer's identification information including name, address, social security or alien registration number, and if provided, the drawer's driver's license number;
2. The name or trade name, registration number, address, and telephone number of the deferred presentment provider and the name and title of the person who signs the agreement on behalf of the deferred presentment provider;
3. The date the deferred presentment transaction was executed;
4. The face amount of the drawer's personal check;
5. The length of the deferment period (in days);
6. The last day of the deferment period;
7. The time of day on the last day of the deferment period for the drawer to either redeem his or her check or request the grace period. Such time shall be the close of business for that calendar day;
8. The address and toll-free telephone number of the Office of Financial Regulation;
9. A clear description of the drawer's payment obligations under the deferred presentment transaction;
10. The disclosure notice required by Section 560.404(20), F.S.;
11. The transaction number assigned by the Office of Financial Regulation's database. This provision shall become effective on March 1, 2002;
12. The amount of currency or the amount of any payment instrument provided to the drawer;
13. A listing of all fees charged to the drawer categorized by fee type (i.e., 10% transaction fee and verification fee);
14. The disclosures required by Section 560.404(13), F.S.;
15. The drawer's written signature and date of execution which shall be done in the presence of the provider or an authorized employee of the provider;
16. The provider or its authorized employee's written signature and date of execution;
17. The check number of the drawer's check; and
18. The drawer's date of birth.
(b) If the deferred presentment provider (Part II registrants only) intends to provide the drawer with a payment instrument in lieu of currency, the agreement shall also contain the drawer's acknowledgment that he or she has consented to accept the provider's payment instrument in lieu of currency. Such acknowledgment shall clearly state that it is the drawer's choice to obtain such payment instrument, and that the provider may not require a drawer to accept a payment instrument in lieu of currency. This acknowledgment shall be separately initialed by the drawer;
(c) If the provider intends to electronically debit the drawer's account to collect the funds, the agreement shall also contain the drawer's authorization to the provider permitting the electronic debit of the drawer's account. This authorization shall be provided in a separate section of the transaction agreement, in not less than 8 point type, and must be initialed by the drawer. Providers must still adhere to all provisions of Part IV of Chapter 560, F.S., regarding the drawer's payment options under such part;
(2) The transaction agreement may not include any of the following:
(a) A hold harmless clause;
(b) A confession of judgment clause;
(c) Any assignment of or order for payment of wages or other compensation for services;
(d) A provision in which the drawer agrees not to assert any claim or defense arising out of the agreement;
(e) A waiver of any provision of Part IV of Chapter 560, F.S.;
(f) Any representation from the drawer as to the sufficiency of funds regarding any past deferred presentment transactions;
(g) Any statement regarding criminal prosecution with respect to the agreement; and
(h) Any language regarding additional fees or penalties imposed on the drawer as a result of the agreement.
(3)(a) Upon being given notice by a drawer in person that he or she will not be able to cover the check or pay the full amount owed to the deferred presentment provider in accordance with the agreement, every provider shall verbally advise the drawer of the availability of the sixty (60) day grace period. A provider shall provide the drawer with the written notice required by Section 560.404(22)(b)3., F.S. Such notice shall be executed and dated by both the drawer and an authorized employee of the registrant.
(b) The provider shall attach a free copy of the Office of Financial Regulation's list of approved consumer credit counseling agencies including the toll-free telephone number of the Office of Financial Regulation.
Specific Authority 560.105(2), 560.404(23) FS. Law Implemented 560.404 FS. History–New 12-17-01, Formerly 3C-560.904, Amended 9-14-04.

69V-560.905 Transaction Fees.
(1) The transaction fee for a deferred presentment transaction shall be limited to ten percent (10%) of the amount of currency or payment instrument provided to the drawer. A deferred presentment provider may also charge a verification fee in accordance with Rule 69V-560.801, F.A.C. An example of the computation of the maximum fees allowed by the code in a transaction where the drawer is seeking an advance of $500 would be as follows:
(a) $500 advanced to the drawer;
(b) A $50 fee ($500 X 10%); and
(c) Up to $5 for the direct costs associated with verification of the drawer's identity and/or employment. In this example, the provider would provide currency or a payment instrument (Part II registrants) in the amount of $500 to the drawer, and the drawer would provide a personal check in the amount of between $550-$555 depending upon the exact amount of the direct costs of verification, if any, assessed by the provider with respect to this drawer. Unless a drawer has met the requirements for an automatic grace period, the drawer would be required to either redeem his or her personal check in cash (face amount of the check) or the provider would on the due date or a reasonable time thereafter present such personal check to the financial institution for payment.
(2) Under no circumstances may the deferred presentment provider collect transaction fees from a drawer at the inception of a transaction. A provider shall not collect verification fees from the drawer at the inception of a deferred presentment transaction. All fees with respect to a deferred presentment transaction shall be collected at such time as the drawer redeems his or her personal check or the provider presents the drawer's personal check for payment.
(3) A deferred presentment provider shall not charge, impose, or add any other fees upon a drawer. Examples of such unauthorized fees include, but are not limited to, such items as initial application fees, drawer setup fees, etc.
(4) Under no circumstances shall a provider require that a drawer purchase any other products or services as a condition of the deferred presentment transaction.
Specific Authority 560.105(3), 560.404(23) FS. Law Implemented 560.404 FS. History–New 12-17-01, Formerly 3C-560.905.

69V-560.906 Consumer Credit Counseling Services.
(1) The Office of Financial Regulation shall publish a list of consumer credit counseling agencies by October 1 of each calendar year via the Office of Financial Regulation's website (www.dbf.state.fl.us). The Office of Financial Regulation will accept requests from consumer credit counseling agencies to be included on the list on an ongoing basis and may periodically republish the list at its discretion. If the Office of Financial Regulation makes a decision to publish the list more often, a notice of such change will be posted on the Office of Financial Regulation's website. The provider will then be responsible for making and distributing such additional copies of the list to all branch locations engaging in deferred presentment transactions.
(2) Every deferred presentment provider shall maintain a copy of the Office of Financial Regulation's list of approved consumer credit counseling agencies and shall provide a copy of the list, free of charge, to any drawer who requests the grace
period in accordance with the provisions of Section 560.404(22), F.S.
(3) The list shall consist of nonprofit agencies that provide consumer credit counseling services to Florida residents in person, by telephone, or through the internet and may be used by drawers to satisfy the requirements for obtaining a sixty (60) day grace period.
(4) In order to verify that a drawer has made an appointment with a consumer credit counseling agency, the provider may require the drawer to provide it with the name and telephone number of the agency with which the drawer has made the appointment.
(5)(a) If the drawer completes consumer credit counseling within sixty (60) days and chooses to enter into a contractual repayment plan, the drawer shall have until the end of the repayment plan to pay the deferred presentment provider the total amount owed in accordance with the terms of the repayment plan.
(b) A repayment plan should be based upon each drawer's individual financial needs as assessed by the consumer credit counseling agency. The counseling agency shall exercise its discretion in arriving at the terms of a repayment plan and is not required to negotiate or obtain the approval of the deferred presentment provider regarding the terms of such repayment plan. A consumer credit counseling agency shall not reduce the amount owing on a deferred presentment agreement without the consent of the deferred presentment provider.
(c) Payments on such repayment plans may be made directly to the deferred presentment provider or to the consumer credit counseling agency depending upon the normal business practice of the counseling agency. Any payment in full by a drawer to a consumer credit counseling agency, made in accordance with the terms of the repayment agreement, shall be considered paid to the deferred presentment provider as of that date. The consumer credit counseling agency shall forward all such payments to the deferred presentment provider within thirty (30) days. Under no circumstances shall a consumer credit counseling agency hold or aggregate any such payments unless they have obtained the consent of the deferred presentment provider.
(6) In situations where a drawer has chosen to enter into a repayment plan, the drawer shall submit a copy of the repayment proposal affecting the provider to such provider not later than the 60th day after the end of the deferment period. A provider who has not received such a proposal may deposit or present the drawer's check for payment in accordance with the provisions of subsection (8) of this rule.
(7) Upon the drawer's completion of the debt repayment plan, the deferred presentment provider shall pay one-half of the drawer's fee for the deferred presentment transaction to the consumer credit counseling agency as its contribution to the agency.
(8)(a) A provider may deposit or present the drawer's check for payment or seek collection through any civil remedy allowed by Part IV of Chapter 560, F.S., at any time after the expiration of the sixty (60) day grace period if:
1. The drawer has failed to enter into a debt repayment plan within the sixty (60) day grace period; or
2. The drawer entered into and subsequently withdrew or defaulted on the debt repayment plan.
(b) A provider shall be limited to collecting only the face amount of the drawer's check. The provider shall refund to the drawer any amount received by the provider in excess of the face amount of the drawer's check. The calculation of this excess amount shall include all payments made by the drawer on the repayment plan and the total amount collected on the check.
Specific Authority 560.105(3), 560.404(23) FS. Law Implemented 560.404 FS. History–New 2-20-02, Formerly 3C-560.906.

69V-560.907 Database Access.
(1) The database vendor shall operate and maintain a website with the URL and domain name www.FLADPP.com on behalf of the Office of Financial Regulation, which shall be the means by which real-time access to the database is made available through an internet connection for providers to comply with Part IV, Chapter 560, F.S. The database vendor shall operate and maintain the database and shall give providers access to the database on the following terms and conditions:
(a) A provider shall designate to the database vendor a security administrator to assign employee user identification numbers and passwords to employees authorized by the provider to register transactions on the database, to maintain provider information on the website and database, and to ensure the accuracy of database transaction information, including that the user identification and password for the employee are associated with the appropriate location from which the transaction is conducted, except for a new location as provided in Section 560.307(2) or 560.208(2), F.S. Only the security administrator identification and password will be administered by the database vendor. The provider's security administrator will be responsible for all other employee user identification numbers and passwords within the provider's organization;
1. If the security administrator needs to be changed or a new security administrator needs to be designated, the provider shall request those changes from the database vendor;
2. If the security administrator forgets the password, the provider shall request the database vendor to reset the password;
(b) A provider's security administrator will not have access to the database until he or she has been certified by the database vendor. The database vendor shall initially provide certification to the provider for one security administrator at no cost. A provider may have one replacement security administrator certified by the database vendor per year at no cost;
(c) A provider shall be and remain registered pursuant to Part II or Part III of Chapter 560, F.S., and provide a “Declaration of Intent to Engage in Deferred Presentment Transactions” together with the required fee to the Office of Financial Regulation as provided by Rule 69V-560.108, F.A.C.;
(d) Upon being given notice by the database vendor of the database being available to register existing open transactions, a provider shall accurately enter all information required by the database regarding each open transaction entered into on or after October 1, 2001; and
(e) Thereafter, a provider shall accurately enter all new deferred presentment transactions into the database in accordance with the provisions of Rule 69V-560.908, F.A.C.
(2)(a) Every primary business location of a deferred presentment provider and every branch office location of which the Office of Financial Regulation has been notified, shall be permitted to register transactions on the database. The Office of Financial Regulation will provide the database vendor with nightly updates Monday through Friday of each week regarding primary business and branch office locations.
(b) It will be the responsibility of each provider's designated security administrator to assign user identification numbers and passwords to those employees at new branch office locations who may register deferred presentment transactions on the database after Form OFR-MT-2-01 (Location Notification Form) as to such branch office location has been provided to the Office of Financial Regulation.
(3) The database vendor will make available limited predefined reporting capabilities to providers, but under no circumstances will these reporting capabilities extend beyond transactions entered by that provider. A provider may request additional predefined reports from the database vendor, but the database vendor shall have discretion to deny these requests. Any reports made available on the database by the database vendor for one provider shall be made available to all providers.
(4) A provider's access to the Office of Financial Regulation's database, including all locations of such provider, will be restricted by the database vendor at such time as the Office of Financial Regulation provides notice to the database vendor via the nightly registration information update or electronic mail that the provider's:
(a) Registration pursuant to Part II or Part III of the code is surrendered, revoked, expired, rendered inactive or the registrant is denied renewal of such licensure; or
(b) “Declaration of Intent to Engage in Deferred Presentment Transactions” is not renewed with the Office of Financial Regulation.
(5) Any provider who has had its access to the Office of Financial Regulation's database restricted shall not have access reinstated until the next business day following resolution of the issue which caused the restriction.
Specific Authority 560.105(3), 560.404(23) FS. Law Implemented 560.404 FS. History–New 4-17-02, Formerly 3C-560.907.

69V-560.908 Database Transaction Requirements.
(1) Each deferred presentment transaction shall be registered with the database and receive a transaction authorization number evidencing the transaction as being recorded in the database prior to a provider giving currency or a payment instrument (Part II registrants only) to the drawer except as set forth in Rule 69V-560.909, F.A.C. The purpose of this database is to:
(a) Prevent the practice of rollover transactions;
(b) Prevent simultaneous deferred presentment transactions with multiple providers by an individual drawer; and
(c) Prevent a new deferred presentment transaction by a drawer within 24 hours of the termination of a prior transaction.
(2) The provider will begin each transaction by:
(a) Accessing the database using the assigned user identification and password provided to each employee by the security administrator for the provider;
(b) Conducting a search of the database based upon either a social security number, alien registration number, or ITIN number of the person seeking a new deferred presentment transaction. The database will provide the result of the search indicating whether the person is eligible or ineligible to enter into a new deferred presentment transaction;
(c) If the person is eligible for a new deferred presentment transaction, the provider may submit all of the required information on a person necessary to have the transaction registered on the database;
(d) Once all of the required information has been submitted to the database, the database will re-verify the search. If the
drawer's eligibility is confirmed, the deferred presentment transaction will be recorded as open, assigned a transaction
authorization number, and the transaction authorization number will be communicated to the provider as evidence that the transaction has been authorized by the database. The provider shall place the transaction authorization number on the deferred presentment agreement; and
(e) Providing a copy of the agreement to the drawer.
(3) Providers may cancel a deferred presentment agreement before the close of business on the date of the transaction without incurring a transaction fee. If a provider elects to cancel a deferred presentment agreement with a drawer, the provider shall not assess either the transaction fee or the verification fee to the drawer. The provider shall immediately update the transaction fields to indicate that no fees were charged to the drawer and close the transaction on the database.
(4) Providers shall immediately update open transactions on the database to ensure that all identifying information regarding both the drawer and the transaction are accurate, including any comments on the transaction which the provider deems relevant. A provider shall also immediately update the database by entering a pending reason when:
(a) The check that is the basis of the deferred presentment agreement has been deposited by the provider, in which case, the date on which the check was deposited shall also be entered;
(b) A drawer has requested the 60-day grace period in accordance with Section 560.404(22)(a), F.S.;
(c) The drawer's check is returned to the provider as not collected; or
(d) The drawer's check is processed for collection via the ACH system.
(5) Providers shall have written procedures for the secure handling of the original check provided by the drawer in the course of a deferred presentment transaction. Such procedures shall include, at a minimum, the following steps, as appropriate:
(a) That checks must be endorsed in the name of the provider and deposited into an account maintained by the provider at the provider's financial institution;
(b) That checks redeemed by the drawer shall be returned to the drawer;
(c) That checks processed for collection via the ACH system shall be returned to the drawer, destroyed, or voided by the provider to ensure that the check cannot be negotiated.
(6) Providers shall be responsible for closing all transactions on the database, except as provided in subparagraph 69V-560.903(1)(a)6., F.A.C., immediately when the transaction has terminated, in which case, the provider shall input the date and time a transaction closes, as well as the payment method, unless the provider has previously entered such payment method. The provider shall also provide a written receipt to the drawer at the time the transaction is redeemed in cash, certified funds, or the drawer provides evidence of clearing.
(7) Any inquiry that results in the person being deemed ineligible by the database will immediately provide a printable message with a description of the reason for the determination together with the name, address, and toll-free support number of the database vendor, 1(877)FLA-DPP1. At a minimum, the description shall state that the person is ineligible because he or she:
(a) Has an open transaction with the inquiring provider;
(b) Has an open transaction with another provider; or
(c) Has terminated a prior transaction within 24 hours of the inquiry. A copy of the printable message shall be provided to the person at the time the database renders a determination that the person is not eligible to enter into a new deferred presentment agreement.
Specific Authority 560.105(2), 560.404(23) FS. Law Implemented 560.404 FS. History–New 4-17-02, Formerly 3C-560.908, Amended 9-14-04.

69V-560.909 Database Availability.
(1) The database shall be accessible 24 hours a day every day of the year except for routine scheduled system maintenance and upgrades performed by the database vendor. During times of scheduled maintenance or system upgrades, providers will be given no less than 24 hours notice in the form of electronic mail to the designated security administrator for each provider or a broadcast message on the website.
(2) In the event the database is unavailable, providers shall adhere to the following procedures:
(a) The provider shall confirm that the database remains unavailable by attempting to access the database with every person seeking a new deferred presentment transaction unless they have been notified via electronic mail by the database vendor of an expected period of time necessary to correct whatever problem is causing the database to remain unavailable;
(b) The provider shall then contact the database vendor's toll-free help desk or voice response system to obtain a temporary transaction authorization number directly from the database vendor; and
(c) Within 24 hours of obtaining the temporary transaction authorization number from the database vendor, the provider shall accurately enter the remaining transactional data into the database.
(3) In the event that either the Office of Financial Regulation or the database vendor notifies the provider that the database is unavailable and that all alternative methods for registering a transaction and receiving a transaction authorization number are also unavailable:
(a) The provider shall be authorized to conduct transactions during the specific period of unavailability, after receiving written authorization, via electronic mail or facsimile from either the Office of Financial Regulation or the database vendor with the Office of Financial Regulation's consent.
(b) Copies of the written authorization for any transactions conducted during such an unavailability period must be attached to the deferred presentment agreement for those transactions. One copy shall be provided to the drawer and another copy shall be kept as an audit record for the provider.
(c) Transactions created during a period of authorized unavailability must be registered with the database within 24 hours of notification by the database, that the database is available; provided, however, that if the database is unavailable for more than 24 hours, then the period for registration shall be extended by 24 hours for each additional 24-hour period of unavailability.
(d) Once the transaction has been registered with the database, the transaction number assigned to that transaction must be placed on the provider's record copy of the deferred presentment agreement signed by the drawer for that transaction. If the drawer requests that transaction number at any time, the provider must provide it to the drawer.
Specific Authority 560.105(3), 560.404(23) FS. Law Implemented 560.404 FS. History–New 4-17-02, Formerly 3C-560.909.

69V-560.910 Database Transaction Fees.
(1) The database transaction fee shall be $1.00 per transaction. A provider shall be assessed this fee for each transaction that has been both registered and recorded on the database. On behalf of the Office of Financial Regulation, the database vendor shall electronically submit an invoice to the provider for its transaction fees at least five (5) days before payment is due and the provider shall pay each such invoice within five (5) days of the invoice date. The database vendor shall submit such invoices for payment to the provider every seven (7) days.
(2) The database vendor shall collect all transaction fees on behalf of the Office of Financial Regulation. A provider has the option of paying for transactions by ACH payment to be initiated by the database vendor, at no cost to the provider; by EFT to be initiated by the provider, at the provider's expense; or by any other commercially electronic methods of payment. If the provider elects to pay by ACH, the provider must sign a form authorizing the database vendor to initiate debit entries for transaction fees and to initiate, if necessary, credit entries and adjustments for any debit entries made in error to the provider's bank account.
Specific Authority 560.105(3), 560.404(23) FS. Law Implemented 560.404 FS. History–New 4-17-02, Formerly 3C-560.910.

69V-560.911 Database Dispute Resolution for Customers.
(1) Any inquiry into the database where the person is deemed ineligible for a new deferred presentment transaction will provide a printable message describing the reason the person was deemed ineligible together with the toll-free support number of the database vendor. The provider shall provide a copy of the message to the person any time the database deems the person to be ineligible for a new deferred presentment transaction.
(2) Only the person deemed ineligible may make a direct inquiry to the database vendor via the toll-free customer support number printed on the message.
(3) Any person deemed ineligible by the database may seek to dispute the determination by following the dispute resolution procedures of the database vendor.
(4) The database vendor shall request any additional information from the person and the provider, regarding any negative eligibility determination, that the database vendor deems necessary.
Specific Authority 560.105(3), 560.404(23) FS. Law Implemented 560.404 FS. History–New 4-17-02, Formerly 3C-560.911.

69V-560.912 Database Confidentiality.
(1) Inquiries to the database by providers shall only state that a person is eligible or ineligible for a new deferred presentment transaction together with a description of the reason for such determination. Only information previously registered and recorded by the provider on the database shall be made available to the provider by the database, the database vendor, or the Office of Financial Regulation.
(2) Only the person seeking the deferred presentment transaction may make a direct inquiry to the database vendor to request a more detailed explanation of a particular transaction that was the basis for the database's ineligibility determination.
(3) Any information regarding any person's transactional history is confidential pursuant to Section 560.4041, F.S., and shall not be released to the public.
Specific Authority 560.105(3), 560.404(23) FS. Law Implemented 560.404 FS. History–New 4-17-02, Formerly 3C-560.912.