The rules and regulations regarding banking and finance in the state of Florida are very strict. The rules and regulations are set in such a manner so that they protect the individual financial interests of the residents of Florida.
The United States of America is one of the most developed countries of the world. In the past few years, the banking practices as well as the capital market in the U.S. has gone through significant changes due to the highly competitive environment.
The type of banking and financial institutions operating in the state of Florida includes the following:
Commercial Banks
Credit Unions
International Bank Offices
Non-Deposit Trust Companies
Savings Banks
Credit Card Banks
Savings and Loans
The leading banks in Florida include the following:
First State Bank of the Florida Keys
Grand Bank of Florida
Popular Bank of Florida
Bank Atlantic Florida
Citizens Bank
The Florida Office of Financial Regulation (FLOFR) is an authorized body for chartering, licensing, inspecting, as well as controlling various financial institutions and financial service providers in the state of Florida. The aim of the organization is to safeguard customers from financial deceit or fraudulence and it tries to maintain the integrity of the banking and financial markets in Florida. The Florida Office of Financial Regulation is divided into six segments: The Division of Financial Institutions, the Division of Finance, the Division of Securities, the Legal Services Office, the Bureau of Financial Investigations, and the Office of Inspector General.
The industries regulated by the FLOFR include the following:
Funds Transmitters and Deferred Presentment Providers
Payment Instrument Sellers
State-Chartered Commercial Banks
Credit Unions
Savings Associations
Non-deposit Trust Companies
International Banking Offices
Collection Agencies
Consumer Finance Companies
Mortgage Broker Businesses and Lenders and Branches
Mortgage Broker Individuals
Retail Installment Sellers and Sales Finance Companies
Check Cashers
Foreign Currency Exchangers
Securities Dealers and Agents
LSecurities Offerings
The name of the Chief Financial Officer (CFO) of Florida is Alex Sink. The name of her office is Florida Department of Financial Services (FDFS).
The various statutes related to banking and finance in Florida include:
Creation of Financial Services Commission
Certified Capital Companies
Mortgage Broker and Mortgage Lending
Fraudulent Practices
Consumer Finance Act
Securities and Investor Protection Act
Retail Installment Sales
Title Loan Companies
Regulation of Trade, Commerce, and Investments, General
Money Transmitters Code
Financial Institutions Generally
Florida Credit Union Act
Banking Code: Banks and Trust Companies
Banking Code: Trust Business
Banking Code: International Banking
Associations
Savings Banks
Lending Practices
Money Laundering Act
Contact Details
Florida Office of Financial Regulation
200 E. Gaines Street, Tallahassee, FL 32399-0371
Tel: (850) 410-9601
Fax: (850) 410-9663