House Bill 777 amends several sections of the Florida Statutes to create exemptions from public records requirements for information related to cybersecurity events affecting financial institutions, including loan originators, mortgage brokers, and money services businesses. The bill stipulates that information received by the Office of Financial Regulation regarding cybersecurity incidents, investigations, and examinations will be confidential and exempt from public disclosure until the investigation is completed or deemed inactive. This includes customer personal information and data related to security breaches. The bill also emphasizes the importance of maintaining confidentiality to protect consumers and the integrity of the financial system, outlining the risks associated with premature information release, such as compromising investigations and increasing identity theft risks.

Additionally, the bill introduces a new subsection to section 655.057, designating specific information received by the Office of Financial Regulation as confidential and exempt from public records requirements. This includes personal financial information, government-issued identification numbers, and records related to current or proposed financial institutions. The bill aims to protect individuals involved in establishing new financial institutions from potential retribution and competitive harm, asserting that public access to such sensitive information could hinder the formation of new institutions. The exemptions are subject to the Open Government Sunset Review Act and will automatically repeal on October 2, 2031, unless renewed by the Legislature. The act will take effect concurrently with related legislation, HB 381, if passed in the same session.