Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69U - FSC - Financial Institution Regulation › Chapter 69U-100 - FINANCIAL INSTITUTIONS GENERALLY › Section 69U-100.105 - Disclosures

Current through Reg. 50, No. 138; July 16, 2024
(1) The short form of disclosures required by
				these rules must include the information described in Form OFR-U-XX, "Debt
				Cancellation Products - Short Form Disclosures," effective 12-2-08, which is
				hereby incorporated by reference, that is appropriate to the product offered.
				Short form disclosures made in a form that is substantially similar to the
				disclosures in Form OFR-U-XX will satisfy the short form disclosure
				requirements of this rule.
(2) The
				long form of disclosures required by these rules must include the information
				described in Form OFR-U-YY, "Debt Cancellation Products - Long Form
				Disclosures," effective 12-2-08, which is hereby incorporated by reference,
				that is appropriate to the product offered. Long form disclosures made in a
				form that is substantially similar to the disclosures in Form OFR-U-YY, "Debt
				Cancellation Products - Long Form Disclosures," will satisfy the long form
				disclosure requirements of this rule.
(3) The financial institution shall make the
				short form disclosures orally or in writing at the time the financial
				institution first solicits the purchase of a debt cancellation
				product.
(4) The financial
				institution shall make the long form disclosures in writing before the customer
				completes the purchase of the debt cancellation product. If the initial
				solicitation occurs in person, then the financial institution shall provide the
				long form disclosures at that time.
(5) If the debt cancellation product is
				solicited by telephone, the financial institution shall provide the short form
				disclosures orally and shall mail the long form disclosures, and, if
				appropriate, a copy of the debt cancellation product contract or agreement to
				the customer within 3 business days, beginning on the first business day after
				the telephone solicitation.
(6) If
				the debt cancellation product is solicited through written materials such as
				mail inserts or "take one" applications, the financial institution may provide
				only the short form disclosures in the written materials if the financial
				institution mails the long form disclosures to the customer within 3 business
				days, beginning on the first business day after the customer contacts the
				financial institution to respond to the solicitation, subject to the
				requirements of subsection
				69U-100.106(3),
				F.A.C.
(7) The disclosures provided
				in this rule may be provided through electronic media in a manner consistent
				with the requirements of the Electronic Signatures in Global and National
				Commerce Act, 15 U.S.C.
				§§
										7001-7006,
				7021,
				7031 (2006), which is hereby
				incorporated by reference, and Chapter 668, F.S.
(8) The disclosures required by this rule
				must be conspicuous, simple, direct, readily understandable, and designed to
				call attention to the nature and significance of the information
				provided.
(9) The disclosures
				required by this rule must be in a meaningful form. Examples of methods that
				could call attention to the nature and significance of the information provided
				include:
(a) A plain-language heading to call
				attention to the disclosures;
(b) A
				typeface and type size that are easy to read;
(c) Wide margins and ample line
				spacing;
(d) Boldface of italics
				for key words; and,
(e) Distinctive
				type style, and graphic devices, such as shading or sidebars, when the
				disclosures are combined with other information.