Florida SB 2086 requires consumer debt
collection agencies to post a
surety bond in connection with the existing registration requirements in an amount determined through rules. The bond could not be less than $50,000 or more than $1 million and the rules would have to base the amount required on the agency’s business volume. The bond would have to be in favor of the State for the benefit of consumers damaged by the agency’s violation of the law. The surety’s aggregate liability would be limited to the bond’s penal sum.