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.

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Locate federal laws and regulation for Florida banks

Federal 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.

I recommend: The 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 Florida

Any 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.

I recommend: The 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 Florida

Credit 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.

I recommend: Find information about credit union banking regulations in Florida at The 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.

Finding a bank that you can not only trust, but that is also easy to work with is an important aspect of any business/banking relationship. The key is finding a Florida banking institution that fits your needs and offers your company the best customer service.

Commercial banks can be either nationally chartered or state chartered. In Florida, state chartered banks are run and regulated by the Florida State Comptroller's Office.

Banks in Florida range from the very small to large institutions that cater to larger corporations. Regardless of your needs there is a bank in Florida that is well suited and up for the task.

1. Examine exactly what services that you are looking for. Florida banking institutions offer a wide range of services that are cost effective.

2. Find a Florida bank that fits your business size. Although many Florida commercial banks focus on the large cooperate account, many provide a more personal touch to small businesses.

3. Compare Florida banks to make sure that you are getting the most for your money. Many banks in Florida offer non-traditional services in addition to the traditional checking, savings, and credit options.

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Find a Florida bank that offers convenience

Finding a bank in Florida that has all of the features and services that you need is great. However, if that bank is halfway across the state it defeats your purpose. Most Florida banks have branch locations scattered all over the state so choose one that is convenient to your business.

I recommend: A Florida Commercial Banking Database can be found on the Florida Office of Financial Regulations website. This listing shows important information which includes location, city, contact numbers and the name of a contact personal with each Florida bank.

Compare corporate banking in Florida to commercial banking in Florida.

The smaller commercial banks can offer a small business a more personal touch and one on one service.

I recommend: The Bank of Central Florida was formed in March of 2007. Their focus is to provide advice from a team of professionals that include CPAs, attornies and financial advisers. The Bank of Florida gives the small business a very personal touch in addition to the traditional checking, saving and lending services. They connect your business with other business leaders and will even pick up deposits in on-site visits.

Look for Florida commercial banking institutions that offer variety

Many of the Florida banking institutions offer online banking, bill pay, and ready credit lines to small businesses. Because your success adds to their success you can often find resources for small business to help your business grow.

I recommend: Always check out a few different banking websites before making a decisions. Wachovia offers online banking, brokerage service and investing among their various small business services. Fifth Third Bank provides the small business resource center in addition to online banking and payroll services. The more recognizable AmSouth Bank is now Regions. They offer Small Business Administration Loans, retirement plans, resource center and hundreds of branches state wide. Suntrust gives the small business merchant service solutions, as well as banking, lending, cash management and an online payroll and check deposit service.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  When banking in Florida, take special notice of the fees. High fees can ultimately end up costing your company much more than it is worth. There is no sense in paying high fees when there are many Florida banking institutions that offer low fees for small business.

While the trends in the U.S. banking system generally move in unison, the Florida banking institutions are subject to local conditions that can influence investment opportunities. It's best to think of Florida as an economy unto itself. For example, a downturn in the housing market or a rise in unemployment can influence the viability of Florida's banks. If there aren't enough people employed to keep depositing money or their housing loans deteriorate, the Florida banks will offer a lower rate of return.

To identify any sources of opportunity or threat, it's important to stay current on the latest banks in Florida news and trends. If your company can spot a coming trend before your competitors, it can be a significant business advantage. News that signals a negative trend may necessitate a shift to a more conservative asset allocation. With a positive trend, your company could take on risk that is more acceptable. However, before you begin this process,there are a few things to consider:

1. Use local publications for the news regarding Florida banks.

2. Review the state agencies that help regulate Florida commercial banking.

3. Examine news from entities that govern business banking in Florida and the United States.

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Assess the news from commercial banks in Florida publications

Local business banking news outlets offer regional and statewide cover that could signal a trend within the industry. The news that you gather shouldn't be limited to the banking industry but should cover the Florida economy as a whole, as this news can directly influence the state's banking system.

I recommend: Evaluate the daily news from the state business publication Florida Trend. Review the banking and business news available at the South Florida Business Journal for possible regional trends.

Monitor the news from state agencies that govern corporate banking in Florida

Banking associations and state regulatory agencies act as local financial traffic cops. They endeavor to ensure that the banks in the state of Florida operate as expected. These entities are also an excellent source for banking industry news and trends.

I recommend: Examine the banking information from the Florida Office of Financial Regulation. Evaluate the banking publications offered by the Florida Bankers Association.

Utilize federal banking agencies to find the latest news on Florida commercial banks

The Federal Reserve System enacts monetary policy and the rate at which banks can borrow money. A change in any of these regulations can alter the way banks in Florida operate on a daily basis. While these changes usually don't occur without notice, it's necessary to regularly monitor the reports from both the regional branch of the Reserve and the national office.

I recommend: Contact the branch of the Federal Reserve Bank of Atlanta in Miami. Review the press releases from the U.S. Federal Reserve on a regular basis.