Consumer Alerts

10/04/2024

Tallahassee, Fla. – Today, the Office of Financial Regulation (OFR) offered resources to Floridians who may need help finding information about their financial services provider(s), including state-chartered banks or credit unions, mortgage servicers, and other financial businesses and professionals.

01/25/2022

Tallahassee, Fla. - The Office of Financial Regulation (OFR) today issued an investor advisory to raise awareness about decentralized finance (DeFi), a relatively new blockchain-based group of financial services gaining popularity. OFR Commissioner Russell C. Weigel, III said, “DeFi-based companies offer lending, banking, and investing options that are decentralized and not dependent on traditional financial markets. This evolution of financial services is not necessarily a bad thing ...

02/17/2021

Tallahassee, Fla. — The Office of Financial Regulation (OFR) today issued an investor awareness advisory providing information to help investors better understand the potential threats to their online financial accounts and how to protect themselves from cybercriminals. CFO Jimmy Patronis said, “Florida continues to face a fraud epidemic in our state, and I am working to ensure that Floridians have the tools and resources to protect themselves from scam artists.

02/12/2021

Tallahassee, Fla. – Section 4022 of the CARES Act provides for special mortgage payment forbearance and foreclosure moratoriums for distressed borrowers affected by COVID-19. Section 4022 also provides for a “covered period” for those borrowers. The federal housing agencies recently clarified that the deadline for certain borrowers to request forbearance under the CARES Act is February 28, 2021. The Office of Financial Regulation encourages borrowers in Florida with federally...

12/30/2020

As Florida and the nation continue to grapple with the effects of the COVID-19 pandemic, you may be worried about what will happen to your credit reports and scores if your ability to pay your loan obligations has been impacted. The Office of Financial Regulation (OFR) encourages Floridians to use the information and resources below to manage and protect their credit. Attorney General Ashley Moody, said, “Regularly monitoring your credit report is one of the best ways...

03/30/2020

Tallahassee, Fla. – CFO Patronis and Commissioner Weigel want Floridians to know that scammers are preying on Floridians’ fears surrounding COVID-19, taking advantage of unsuspecting victims while emotions are high and there is a sense of urgency surrounding this public health crisis. The Florida Office of Financial Regulation (OFR) is encouraging Floridians to remain vigilant while taking steps to protect themselves from scams. During this time, scammers may rely on various tactics to...

03/24/2020

Tallahassee, Fla. - The Florida Office of Financial Regulation (OFR) is offering resources to Floridians who may need help finding information about their financial services provider(s), including state-chartered banks, credit unions, mortgage servicers or other financial businesses and professionals. OFR Commissioner Russell C. Weigel, III, said, "It's our priority to ensure that Floridians have these important resources at their fingertips as individuals and families respond to the...

01/23/2019

Tallahassee, Fla. - Florida is the most military friendly state in the nation, with more than 1.5 million military veterans living in the Sunshine State. Last year, the Florida Legislature passed House Bill 29 to help military members in Florida by allowing for certain financial services business licensure fees to be reimbursed. Through the Don Hahnfeldt Veteran and Military Family Opportunity Act, the Florida Office of Financial Regulation offers reimbursement of fees associated with licensure of...

12/04/2018

Tallahassee, Fla. - Marriott announced Friday that hackers stole data from as many as 500 million guests who made reservations at Marriott's Starwood properties. The hack, which began in 2014, compromised information including combinations of name, mailing address, phone number, email address, passport number, Starwood Preferred Guest account information, date of birth, gender, arrival and departure information, reservation date, and communication preferences.

11/15/2018

Tallahassee, Fla. - In recognition of International Fraud Awareness Week, the Florida Office of Financial Regulation is raising investor awareness of the risks associated with investments in promissory notes. State securities regulators have identified promissory notes as a leading source of complaints to their agencies. In fact, the North American Securities Administrators Association (NASAA), of which OFR is a member, reported 210 investigations involving promissory notes, which led to...

09/27/2018

Active military members, veterans, and their spouses can now apply for reimbursement of mortgage loan originator and securities associated person license fees. Tallahassee, Fla. – The Florida Office of Financial Regulation today announced that rulemaking to implement Florida House Bill 29, the Don Hahnfeldt Veteran and Military Family Opportunity Act, is complete. Active military members, veterans, and their spouses can now apply for reimbursement of fees associated with licensure of mortgage...

08/30/2018

Tallahassee, Fla. – Individual retirement accounts (IRAs) are an important piece of your retirement planning. Self-directed IRAs have become a popular choice for those looking to supplement their nest egg. While most IRAs invest your money in stocks, bonds, mutual funds, etc., which are registered with regulatory organizations, a self-directed IRA allows the owner more control over where the money is invested, including unregistered investments.

08/18/2018

Tallahassee, Fla. – Buying a new or used vehicle is exciting, and it can be easy to get swept up by a persuasive salesperson. The Florida Office of Financial Regulation (OFR) oversees motor vehicle retail installment sellers. The license authorizes its holder to offer installment payments to its customers, for the sale of motor vehicles to retail buyers. This license is required by firms that sell and finance vehicles, such as automobiles, trucks, trailers, RV's, motorcycles, and mobile homes.