TALLAHASSEE, Fla.—Gov. Rick Scott has signed HB 1347, a bill exempting credit unions from regulation and lawsuits under the Florida Deceptive and Unfair Trades Practices Act (FDUTPA), the League of Southeastern CUs reported.
“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,” LSCU stated.
The league thanked Scott, 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.