Florida Banking Brief: All the Notable Legal Updates in Q2

Litigation attorneys Joshua Prever and Andrew Balthazor authored an article for Law360 discussing two significant bills introduced in the second quarter of 2024 that will impact the banking and financial sector in Florida. The first bill, H.B. 989, expands existing laws to prohibit discrimination by federally regulated entities, creates a complaint process and establishes guidelines for virtual currency custodians. The second bill, S.B. 158, increases the maximum exemption amount for motor vehicles, impacting unsecured creditors and debtors in bankruptcy proceedings. The authors highlight the substantial regulatory changes these bills will bring to the state's financial landscape, noting that unsecured lenders will likely be most affected because the total amount of assets available for repayment will be reduced.

READ: Florida Banking Brief: All the Notable Legal Updates in Q2