Florida Tightens Bank Regulations, Establishes IRS Liaison

Governor Ron DeSantis signs HB 989, shielding conservative groups and businesses from bank account termination based on political or industry affiliation. The legislation, effective July 1, introduces a state liaison to address Floridians' IRS concerns. While aimed at protecting consumers, it also addresses rising account closures due to suspicious activity reports, with recourse provisions for affected individuals. Chief Financial Officer Jimmy Patronis supports the bill, emphasizing its consumer protection measures. For more information, please click here.