CFO Jimmy Patronis Statement on AOB Rule Implementation and Consumer Protection
Tallahassee, Fla. (09/22/20) - Today, Chief Financial Officer (CFO) Jimmy Patronis issued a statement following the meeting of the Governor and Cabinet where a rule was approved implementing provisions of HB 7065 and Consumer Protections related to Assignment of Benefits (AOB) reform in Florida's property insurance market.
CFO Jimmy Patronis said, "We're constantly working to protect consumers and close loopholes used by fraudsters that increase insurance rates on everyone. That's why, in the 2019 Legislative Session, I championed vital legislation alongside Senator Doug Broxson and Representative Bob Rommel to clamp down on rampant AOB abuse and protect Florida's insurance consumers from the AOB nightmare that delayed repairs and increased insurance rates for every Florida homeowner. With the passing of HB 7065 and the implementation of rules today by the Florida Cabinet, this is another big win for Florida consumers and will set us on the path to bring much needed relief and protections to homeowners. Thank you to Commissioner Altmaier for working to implement the provisions of this important bill to protect our homeowners from the AOB abuse that has plagued our state for far too long."
CFO Jimmy Patronis Statement on Vital Protections for Vulnerable Investors
Tallahassee, Fla. (09/22/20) - Today, Chief Financial Officer (CFO) Jimmy Patronis issued a statement following the meeting of the Governor and Cabinet where a rule presented by Office of Financial Regulation was approved implementing provisions of recently passed legislation to protect vulnerable investors. Championed by CFO Patronis this year, House Bill 813 provides financial brokers and advisors who recognize signs of financial exploitation with additional tools to protect vulnerable investors.
CFO Jimmy Patronis said, "As your CFO, it is my top priority to protect consumers from financial fraud and scams, and especially our large senior population. These individuals work their entire lives to build a nest egg and we must protect them from bad actors looking to make a quick buck. I was proud to support HB 813 as it moved through session last year and thank Senator Doug Broxson and Representative Lawrence McClure for their work to ensure vulnerable investors are protected from exploitation.
CFO Jimmy Patronis Statement on FinTech Rule Implementation and Supporting Innovation in Florida
Tallahassee, Fla. (09/22/20) - Today, Chief Financial Officer (CFO) Jimmy Patronis issued a statement following the meeting of the Governor and Cabinet where a rule from the Office of Financial Regulation was approved implementing provisions of HB 1391. The legislation, among other items, creates a Financial Technology sandbox within the Office of Financial Regulation for facilitating technological innovation.
CFO Jimmy Patronis said, "By finalizing this rule, Florida is ready to fully implement the FinTech sandbox, which comes at a crucial time when businesses in California are looking elsewhere to grow and innovate. Florida now has a new tool to attract the jobs and industries of the future to our communities. FinTech's opportunities for Florida are limitless and the more we can do to create a regulatory environment that allows businesses to innovate and test new technologies, the more effective we'll be at attracting technology jobs and investment to Florida communities. As someone who's run a small business, I know just how beneficial it is to our economy, workforce, and communities to attract high paying, technology-focused jobs to Florida. Thank you to the bill sponsors, Senator Travis Hutson and Florida's Chief Information Officer Jamie Grant for their hard work and support to getting this bill to the finish line. Be suspicious of fraud, report it immediately at FraudFreeFlorida.com".
CFO Jimmy Patronis Activates Emergency Adjuster Licensing System to Aid in Hurricane Sally Recovery
Tallahassee, Fla. (09/21/20) - Today, Florida Chief Financial Officer (CFO) Jimmy Patronis announced the Department of Financial Services' emergency adjuster license system has been activated to support homeowners' and businesses' efforts to get back on their feet following the impacts of Hurricane Sally in the Florida Panhandle.
CFO Patronis Joins Governor DeSantis in Panama City for Announcement of $10 Million for Hurricane Michael Recovery
Panama City, Fla. (08/17/20) - Today, Chief Financial Officer (CFO) Jimmy Patronis joined Governor Ron DeSantis and members of the Panhandle Legislative Delegation in Panama City as he announced the relaunch of the Hurricane Michael Recovery Loan Program. Administered by the Florida Housing Finance Corporation (Florida Housing), the home ownership program provides $10 million in down payment assistance (DPA) to Floridians in the Hurricane Michael impacted counties.
CFO Jimmy Patronis said, "I was honored to join Governor DeSantis today in my hometown of Panama City as he announced $10 million to the Hurricane Michael Recovery Loan Program. Nearly two years ago, Hurricane Michael ripped through the Florida Panhandle as a massive Category 5 storm and every day since these hard-working people have fought to pick up the pieces and rebuild. This assistance is vital to helping our residents recover, especially while they are still dealing with the lingering effects of Michael and now the COVID-19 pandemic. Thank you, Governor DeSantis, for your continued support of Florida panhandle communities."
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