Florida Statutes Title XXXIX Chapter 687 - Interest And Usury; Lending Practices

• 687.01 - Rate Of Interest In Absence Of Contract.
  In all cases where interest shall accrue without a special contract for the rate thereof, the rate is the rate provided for in s. 55.03.History.—s....
• 687.02 - “usurious Contracts” Defined.
  (1) All contracts for the payment of interest upon any loan, advance of money, line of credit, or forbearance to enforce the collection of any debt,...
• 687.03 - “unlawful Rates Of Interest” Defined; Proviso.
  (1) Except as provided herein, it shall be usury and unlawful for any person, or for any agent, officer, or other representative of any person, to...
• 687.0303 - “line Of Credit” Defined.
  (1) The term “line of credit,” whenever used in this chapter, means an arrangement under which one or more loans or advances of money may be...
• 687.0304 - Credit Agreements.
  (1) DEFINITIONS.—For the purposes of this section:(a) “Credit agreement” means an agreement to lend or forbear repayment of money, goods, or things in action, to otherwise extend...
• 687.031 - Construction, Ss. 687.02 And 687.03.
  Sections 687.02 and 687.03 shall not be construed to repeal, modify or limit any or either of the special provisions of existing statutory law creating...
• 687.04 - Penalty For Usury; Not To Apply In Certain Situations.
  Any person, or any agent, officer, or other representative of any person, willfully violating the provisions of s. 687.03 shall forfeit the entire interest so...
• 687.05 - Provisions For Payment Of Attorney’s Fees.
  No provision for the payment of attorney’s fees, or charge for exchange or similar charge shall render such instrument subject to the terms of any...
• 687.06 - Attorney’s Fee In Enforcing Nonusurious Contracts; Proviso; Insurance Premiums; Attorney’s Fee Provided In Note.
  This chapter shall not be so construed as to prevent provision for the payment of such attorney’s fees as the court may determine in cases...
• 687.071 - Criminal Usury, Loan Sharking.
  (1) DEFINITIONS.—The following words and phrases, as used in this section, shall have the following meanings:(a) “Person” shall be construed to be defined as provided in s....
• 687.08 - Person Lending Money To Give Borrower Receipt For Payments; Contents Of Receipt; Penalty For Violation.
  (1) Every person, or the agent, officer, or other representative of any person, lending money in this state upon security shall, whenever the borrower of such...
• 687.09 - Persons Accepting Chattel Mortgage As Security For Loans Under $100 To Cause Amount As Principal, Interest, And Fees To Be Inserted.
  Every mortgagee accepting a mortgage on personal property as security for the repayment of a loan of money less than $100 shall cause to be...
• 687.10 - Not Applicable To Chartered Banks, Trust Companies, Building And Loan Associations, Savings And Loan Associations, Or Insurance Companies.
  The provisions of ss. 687.08 and 687.09 shall not apply to chartered banks, state or national, trust companies, building and loan associations or to savings...
• 687.12 - Interest Rates; Parity Among Licensed Lenders Or Creditors.
  (1) Any lender or creditor licensed or chartered under chapter 516, chapter 520, chapter 657, chapter 658 or former chapter 659, former chapter 664 or former...
• 687.125 - Compounding Of Interest.
  Interest or finance charges on any loan or extension of credit secured by a mortgage which contains a provision for the compounding of interest may...
• 687.13 - International Transactions.
  (1) The provisions of this chapter, other than s. 687.071, shall not apply to any loan made by any international bank agency or any bank, including...
• 687.14 - Definitions.
  As used in this act, unless the context otherwise requires:(1) “Advance fee” means any consideration which is assessed or collected, prior to the closing of a...
• 687.141 - Loan Brokers; Prohibited Acts.
  No loan broker shall:(1) Assess or collect an advance fee from a borrower to provide services as a loan broker.(2) Make or use any false or misleading...
• 687.142 - Responsibility Of Principals.
  Each principal of a loan broker may be sanctioned for the actions of the loan broker, including its agents or employees, in the course of...
• 687.143 - Loan Brokers; Investigations; Cease And Desist Orders; Administrative Fines.
  (1) The office may investigate the actions of any person for compliance with this act.(2) The office may order a loan broker to cease and desist whenever...
• 687.144 - Investigations; Examinations; Subpoenas; Hearings; Witnesses.
  (1) The office may make investigations and examinations upon reasonable suspicion within or outside of this state as it deems necessary to determine whether a person...
• 687.145 - Injunction To Restrain Violations.
  (1) Whenever the office determines, from evidence satisfactory to it, that any person has engaged, is engaged, or is about to engage in an act or...
• 687.146 - Criminal Penalties.
  Whoever violates any provision of this act commits a felony of the third degree, punishable as provided in s. 775.082, s. 775.083, or s. 775.084.History.—s....
• 687.147 - Actions For Damages.
  (1) Any borrower injured by a violation of this act may bring an action for recovery of damages. Judgment shall be entered for actual damages, but...
• 687.148 - Duties And Powers Of The Commission And Office.
  (1) The office is responsible for the administration and enforcement of this act.(2) The commission may adopt such rules as it may deem necessary in the administration...

Last modified: September 23, 2016