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OFR
USINFO | 2013-11-14 15:01
Key Function: provides regulatory oversight for Florida’s financial services providers.
Mission: to protect the citizens of Florida by carrying out the banking, securities and financial laws of the state efficiently and effectively and to provide regulation of business that promotes the sound growth and development of Florida’s economy.
History: the OFR was created in 2003 by section 20.121(3), Florida Statutes, from cabinet reorganization legislation. The OFR is preceded by the former Comptroller’s Office dating to the mid-1800s.
Leadership: the OFR reports to the Financial Services Commission, which is comprised of Florida’s cabinet. The office is headed by a commissioner appointed by the Commission. The Commission has final rule approval, but all regulatory decisions are vested with OFR.
State of Florida organizational chart
Budget: the OFR is self-supporting in that all of its operating revenues come from the organizations and individuals it regulates.
Office Locations: Tallahassee, Orlando, West Palm Beach, Miami and Tampa.
Organization: the OFR has three Divisions and one Bureau. The programs oversee and regulate a wide range of financial enterprises and individuals, such as state-chartered banks, credit unions, mortgage loan originators, securities industry participants, consumer finance companies, money transmitters, foreign currency exchangers and payday lenders.
