Florida Banking June/July 2025

before returning it to the Senate for final passage. We had several House members, including Reps. Brackett, Maggard (R), and Buchanan (R) working with us and extracted a promise from House leadership that the Bar had to meet with us and the bill sponsors to discuss a compromise. We expect to either reach an agreement at the meeting or to pass legislation in the 2026 Session. Thank you to Sen. Grall and Reps. Brackett, Maggard and Buchanan for

substitute service on unascertainable respondents in cases of exploitation of vulnerable adults. The legislation requires that upon an order of the court to return funds to the vulnerable adult, a 30-day freeze on any proposed transfer of funds or property is initiated. The FBA supported the legislation to help curtail fraud against our customers. Thanks to Rep. Kevin Steele (R) and Sen. Jonathan Martin (R) for their work on the legislation. Trusts

their help this Session! Financial Services

SB 262 passed the Legislature. It revises definitions and procedures involving trust administration in Florida. The bill is a joint work product of the FBA and the Real Property Section of the Florida Bar. Thanks to Rep. Vanessa Oliver (R) and Sen. Lori Berman (D) for their work on the legislation. Condominiums The Legislature passed

“WILL HISTORY REPEAT ITSELF, OR WILL THE LEGISLATIVE LEADERS AND THE GOVERNOR AGREE TO A BUDGET BY JUNE 30 (OR BEFORE)?”

The Office of Financial Regulation (OFR) filed legislation to clean up regulatory issues for banks and credit unions. Among its provisions, SB 1612:

• Amends the due dates by which time a financial institution must pay semiannual assessments and specifies the method and timing of when the semiannual assessments must be made

HB 913 after much discussion between Rep. Vicki Lopez (R) and Sen. Jennifer Bradley (R). The bill is a compromise package that preserves the safety elements of current law and still addresses reserves, the milestone study, conflicts of interest and many more topics. We will provide more information about these and other bills in our 2025 Legislative Report .

• Authorizes a credit union elected officer, director or committee member to be reimbursed for certain necessary incidental expenses Securities HB 379 passed the Legislature and will fix a glitch from last Session that caused a cessation of the sale or

purchase of securities by some our members in Florida. The FBA thanks the bill sponsors Rep. Webster Barnaby (R) and Sen. Keith Truenow for their work on this legislation. Thank you also to Commissioner Russ Weigel and the OFR for their work on the legislation to fix the glitch from last year. Financial Exploitation of Vulnerable Adults SB 106 passed providing for

Enhancing risk management practices and improving loan portfolio performance through rigorous portfolio reviews, stress testing exercises, and model validations since 1989. PORTFOLIO LOAN REVIEW • General (CRE, C&I) or specialized portfolios (Cannabis, Leveraged, Wholesale, other) • Annual or Due Diligence engagements PORTFOLIO STRESS TESTING • CRE and C&I with Capital Impact Analysis • CRE Construction Projects and other specialty segments MODEL METHODOLOGY VALIDATIONS • CECL and Stress Testing methodologies Unparalleled Credit Insights

ceisreview.com | 888-967-7380

how we can tailor our services to meet your 96'$-)$ 2''&9W

WWW.FLORIDABANKERS.COM JUNE | JULY 2025 — 17