Florida Regulations 69V-560.707: Records to be Maintained by Deferred Presentment Providers
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(1) Every deferred presentment provider shall maintain the following records at a location which has been designated to the Office:
(a) A copy of each personal check, including any authorization to transfer or withdraw funds from an account signed by the drawer, 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 Fl. Admin. Code R. 69V-560.904
(c) If applicable for deferred presentment transactions not repayable in installments, 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) If applicable for a deferred presentment installment transaction, a copy of each document relating to any deferral request received from any drawer including:
1. A signed and dated notice from the drawer that the drawer is unable to cover the check or to repay the provider on or before the installment due date, and that the drawer agrees to and is aware of the new due date for the deferred installment payment.
2. All correspondence received from or sent to the drawer or the consumer regarding the deferred installment payment.
(e) 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.
(f) A daily summary of the business activities including the following documents:
1. Bank deposit receipts and supporting records detailing the bank deposit;
2. Copies of checks and withdrawal receipts evidencing withdrawal of funds from accounts maintained by the provider; and,
3. A daily cash reconciliation summarizing each day’s activities and reconciling cash on hand at the close of business.
(g) 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.
(h) 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.
(i) The copy of the drawer’s personal check shall constitute compliance with the requirements of subparagraphs (e)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 Fl. Admin. Code R. 69V-560.801, if such fee is charged to that drawer.
(j) 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.
(k) Copies of receipts provided to the drawer for each check 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 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.
(l) Copies of documentation presented to the provider as evidence of clearing.
(2) The records referenced in subsection (1) above shall be maintained by the provider in accordance with the provisions of Florida Statutes § 560.1105
Rulemaking Authority 560.105, 560.404 FS. Law Implemented 560.1105, 560.404 FS. History-New 12-17-01, Formerly 3C-560.707, Amended 9-14-04, 1-13-09, 11-28-19.
Terms Used In Florida Regulations 69V-560.707
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
(b) A copy of each transaction agreement between the deferred presentment provider and the drawer that meets the requirements of Fl. Admin. Code R. 69V-560.904
(c) If applicable for deferred presentment transactions not repayable in installments, 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) If applicable for a deferred presentment installment transaction, a copy of each document relating to any deferral request received from any drawer including:
1. A signed and dated notice from the drawer that the drawer is unable to cover the check or to repay the provider on or before the installment due date, and that the drawer agrees to and is aware of the new due date for the deferred installment payment.
2. All correspondence received from or sent to the drawer or the consumer regarding the deferred installment payment.
(e) 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.
(f) A daily summary of the business activities including the following documents:
1. Bank deposit receipts and supporting records detailing the bank deposit;
2. Copies of checks and withdrawal receipts evidencing withdrawal of funds from accounts maintained by the provider; and,
3. A daily cash reconciliation summarizing each day’s activities and reconciling cash on hand at the close of business.
(g) 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.
(h) 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.
(i) The copy of the drawer’s personal check shall constitute compliance with the requirements of subparagraphs (e)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 Fl. Admin. Code R. 69V-560.801, if such fee is charged to that drawer.
(j) 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.
(k) Copies of receipts provided to the drawer for each check 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 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.
(l) Copies of documentation presented to the provider as evidence of clearing.
(2) The records referenced in subsection (1) above shall be maintained by the provider in accordance with the provisions of Florida Statutes § 560.1105
Rulemaking Authority 560.105, 560.404 FS. Law Implemented 560.1105, 560.404 FS. History-New 12-17-01, Formerly 3C-560.707, Amended 9-14-04, 1-13-09, 11-28-19.