Florida banking laws are in place to provide regulatory overview of the financial industry, including banks, credit unions and savings & loans. Banking laws in Florida are designed to offer the maximum protection to the people whose money is held in the financial institute and to keep the financial industry solvent.

Recognize that Florida banking laws are in place in part because of state agencies; most of the regulations that govern the financial industry are set into place by federal agencies. The laws that Florida has in place work with federal laws and provide another layer of protection.

1. Educate yourself on banking laws in Florida.

2. Protect your business with Florida banking law attorneys.

3. Know the lingo of Florida banking laws and the banking industry.

Action Steps
The best contacts and resources to help you get it done

Understand the implications banking laws in Florida have on your business

Sit down with your professional banker to find out if the banking laws in Florida impact your business practices. Discuss any changes you need to make to stay within the laws and receive the full protection provided by those laws.

I recommend: The Florida Legislature provides information about Florida banking laws. Look specifically for code XXXVIII to research the details of banking law in Florida. LawGuru.com is an online law library where you can research Florida banking law practices and how those practices affect your business.

Hire a knowledgeable banking law firm in Florida

Take advantage of the expertise offered by a banking law firm. Use their specialized knowledge to protect your business from unethical banking practices. Interview several firms before making a decision so you're comfortable with the representation you choose to protect your interests.

I recommend: Use Findlaw.com to help you locate Florida banking lawyers in the city you reside in. HG.org allows you to search for Florida banking law firms in each city to help you find representation in your local area.

Learn the Florida banking law language

Teach yourself banking terminology to help you better understand the banking industry. From jargon to technical terms, the more you understand, the better choices you can make. You can better comprehend loan documents, tax ramifications and the differences between accounts with this information firmly in hand.

I recommend: Great Florida Bank that explains the terminology used in the banking industry. The University of Florida has compiled a list of common banking terms and their definitions to help you become familiar with banking jargon.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Consult with qualified accountants to help you ensure your business practices are not violating any of the banking laws in the state of Florida. Set up policies to govern accounts receivable, accounts payable and the handling of all finances to protect you and your staff members from possible criminal behavior.