Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69V - Finance › Chapter 69V-560 - MONEY TRANSMITTERS › Section 69V-560.707 - Records to be Maintained by Deferred Presentment Providers

Current through Reg. 50, No. 138; July 16, 2024
(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 Rule
				69V-560.904, F.A.C.
(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 Rule
				69V-560.801, F.A.C., 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.