Tag: Florida Office of Financial Regulation

Florida Senator Hays Seeks to Eliminate Licensing for Consumer Loans

Posted on 03/16/12 by Dana Manner
Florida Capitol

Florida Senator Alan Hays introduced SB 1894 seeking, among other things, to eliminate the licensing requirements and eliminating many of the penalties against  lenders making sales finance loans, and other types of consumer loans in Florida. The bill described as “An act relating to the Office of Financial Regulation of the Financial Services Commission…” contains text […]

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Sonic Automotive Enters Settlement with Florida for Making Car Loans Without a License

Posted on 03/10/12 by Dana Manner
Florida Capitol

TALLAHASSEE, FL – A division of Sonic Automotive, Inc.  (NYSE: SAH)  (SONIC SHOTTENKIRK, INC.) entered into a STIPULATION AND CONSENT AGREEMENT with the State of Florida Office of Financial Regulation (“OFR”) for engaging in the business as a Motor Vehicle Retail Installment Seller without a license. (State of Florida, Office of Financial Regulation Administrative Proceeding No: 1627-FR-1/12). Sonic […]

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FIADA and OFR Report: 70% of FL Used Car Dealers Failed to Renew Used Car Loan Licenses in 2010

Posted on 03/10/12 by Dana Manner
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The Executive Director of the Florida Independent Automobile Dealer’s Association (FIADA) reported on page 6 of the February 2011 issue of the Independent Dealer Magazine that according to the Florida Office of Financial Regulation (OFR) that 70% of used car dealers failed to renew their Motor Vehicle Retail Installment Sellers (MVRIS) Licenses, before the deadline of […]

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