Breaking News: DFS Guidance Removed

Very important update on the 3rd party vendor fee situation.

Dear Members,

Here is a very important update on the 3rd party vendor fee situation.  I am pleased to tell you the recent guidance posted by Department of Financial Services that caused so much confusion this past week has been REMOVED. It is no longer on the website.  However, DFS  advises that the guidance is under review by its legal department for possible revisions and is likely to be reposted in several days.  We are also anticipating that we will meet with DFS for an in-depth discussion of this issue to be scheduled within a week or so.  So stay on the look out for updated information from me at any time.

As chair of the Government Affairs Committee for FLTA, I was very involved with the group that formulated a response to the guidance as originally posted.  I am very proud to serve on this team and cannot say enough about the collective desire of FLTA's leadership to do the right thing for the industry.  I will be attending the meeting in Tallahassee to speak on your behalf to bring some clarity and common sense to this whole situation.

So it is back to business as usual and you should continue to show your fees as you have been doing…….until further notice and updates from us.

Thank you for your input and responses over the past week.  I always appreciate hearing from you.


Melissa Jay Murphy
Executive Vice President, Chief Legal Officer,
General Counsel and Secretary