Gov. Scott signs FDUTPA legislation

Yesterday, Gov. Rick Scott signed HB 1347 exempting credit unions from regulation and lawsuits under the Florida Deceptive and Unfair Trades Practices Act (FDUTPA). Banks and savings and loans associations were already exempted from FDUTPA and the League’s Advocacy team was successful in guiding this legislation to passage during the 2017 Legislative Session. The League […]

Yesterday, Gov. Rick Scott signed HB 1347 exempting credit unions from regulation and lawsuits under the Florida Deceptive and Unfair Trades Practices Act (FDUTPA). Banks and savings and loans associations were already exempted from FDUTPA and the League’s Advocacy team was successful in guiding this legislation to passage during the 2017 Legislative Session.

The League thanks the governor, along with the sponsors of the bill, Rep. Shevrin Jones (D-West Park) and Sen. Bobby Powell (D-Riviera Beach). The law is effective July 1, 2017.

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The League of Southeastern Credit Unions & Affiliates represents nearly 300 credit unions throughout Alabama, Florida, and Georgia. It has a combined total of almost $200 billion in assets and 12.4 million members. LSCU provides advocacy, compliance services, education and training, cooperative initiatives, and communications.

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