All Florida banking institutions must abide by a set of laws and regulations put forth by national and state agencies. These laws are designed to protect the banks and the customers of the banks. Keeping up with banks in Florida laws and regulations is the best way to insure you are compliant with the governing agencies and to insure your bank continues to do business in Florida.
Banks in Florida laws and regulations are put into place and enforced by three types of agencies. The federal government designed three types of banking laws: those for regular banks, federal reserve banks and credit unions. The state of Florida also has its own laws governing banking institutions within the state.
1. Learn the federal laws and regulation for Florida banks.
2. Review state laws for commercial banking in Florida.
3. Locate credit union laws for banking in Florida.
Locate federal laws and regulation for Florida banksFederal laws and regulations are passed by the national government and effect all of the banks in the United States. These regulations are overseen by the Federal Deposit Insurance Corporation and the Federal Reserve System. Failure to comply with these regulations can result in fines and temporary closure of the bank.
Federal Deposit Insurance Corporation (FDIC) lists the regulations concerning federally insured banking, including business banking in Florida. The Board of Governors of the Federal Reserve System provides the regulations and laws governing bank capital, lending and other issues for banks in Florida.
Find state laws for commercial banking in FloridaAny Florida banking institution must abide by the regulations set forth by the state. This applies to both individual and corporate banking in Florida. These regulations are overseen by the Florida Office of Financial Regulation. Any Florida bank needs to stay informed of all regulations concerning their type of bank so they can comply with the rules and avoid any fines or other repercussions.
Florida Legislature lists all of the laws for Florida commercial banking. Visit the Florida Office of Financial Regulation to find information about Florida state-chartered banking institutions, laws, regulations, and penalties for not observing the laws.
Find credit union laws for banking in FloridaCredit unions must follows laws set forth by national and state regulatory agencies. A credit union in Florida is required by the state to comply with all federal and state laws. Failure to comply to these regulations can result in fines and penalties.
National Credit Union Administration. Their site also includes information about the Bank Secrecy Act and the Federal Credit Union Act. Visit the Florida Credit Union League to find regulatory compliance information for credit unions.