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Bill to exempt Florida credit unions from regulations advances in Senate

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The Senate Banking and Insurance Committee approved SB 1620 Monday, a bill filed by West Palm Beach Democrat Bobby Powell that would exempt credit unions from regulation under the Florida Deceptive and Unfair Trade Practices Act. However, there were also discussions about rolling back federal consumer protections by President Donald Trump, leading Fort Lauderdale Democrat Gary Farmer to attempt a late-filed amendment. Farmer said common law fraud protects consumers only when someone makes an affirmative misrepresentation, and that recipient lies on that misrepresentation. If no statement is…

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